Following the recent government budget announcement on 3 March 2021, in this week’s video Daniel Krigers will be covering the key details to be considered by employers, click here to watch.

In a time of constant legislative change, our Regulatory Partner Nils O’Donoghue discuss’ our insurance product that can be utilised by businesses at any time. Click here to check it out.

If you have any queries about the matters discussed in this video, please email employmenthub@chadlaw.co.uk for help and advice.

Extension of Furlough

The Coronavirus Job Retention Scheme will be extended to the end of September 2021. Employees currently on the scheme will continue to receive 80% of their wages until the scheme ends. However, employers will be asked to contribute 10% in July 2021, and 20% in August and September 2021 as the scheme is gradually phased out.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/966161/Budget_2021_Web_accessible.pdf

Minimum Wage Increase

The Government this week has announced the National Living Wage (NLW) and National Minimum Wage (NMW) rates which will come into force from April 2021 as follows:

Workers aged 23 and over: £8.91 an hour (National Living Wage)

Workers aged 21-22: £8.36 an hour

Development rate for workers aged 18-20: £6.56 an hour

Young workers rate for workers aged 16-17: £4.62 an hour

Apprentice rate: £4.30 an hour https://www.gov.uk/government/news/national-living-wage-increase-to-protect-workers-living-standards

Alcohol Duty Rates Frozen

Within the Budget announcement, the government confirmed it would freeze all alcohol duty rates. This should assist the hospitality sector in particular when the scheduled lift on current restrictions allow the sector to begin trading as normal https://www.gov.uk/government/publications/budget-2021-overview-of-tax-legislation-and-rates-ootlar/budget-2021-overview-of-tax-legislation-and-rates-ootlar

Statutory Sick Pay (SSP) Increases

The current rate of SSP is £95.85 per week, which is due to increase from 6 April 2021 to £96.35 https://www.gov.uk/guidance/rates-and-thresholds-for-employers-2021-to-2022