PAYE: Dynamic coding

As of 2nd July 2017 HMRC launched the new system of dynamic coding. This means that under the new system potential underpayments are replaced with in year adjustments (IYAs) Tax codes are adjusted in-year to reflect changes in an employee’s circumstances as soon as HMRC becomes aware of the change.

National Minimum Wage 2020: New Rates

The hourly National Minimum Wage rates update each April and apply for anyone who is of school leaving age. You need to be 25 or over to qualify for the National Living Wage.

If you are aged 19 or under, or are over 19 but in the first year of an apprenticeship, you will qualify for the apprentice rate (see table below):

Minimum wage rates 2020

The national minimum wage rates from 1st April 2020 are as follows:

Age 2019/2020 2020/2021 (Current Rate)
25 and over £8.21 £8.72
21 to 25 £7.70 £8.20
18-20 £6.15 £6.45
Under 18 £4.35 £4.55
Apprentices £3.90 £4.15