From April 2021 the National Living Wage replaces the National Minimum Wage for employees aged 23 and over. This amount is £8.91 per hour. For employees ages 21-22 £8.36, 18-20 £6.56 and under 18’s £4.62.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 1st October
If are a non tax payer earning below £12,570 you can earn up to £5,000 tax free of interest. If you are a basic rate tax payer earning over £12,570 up to £50,000 you can earn up to £1,000 of interest tax free.