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2015 Budget: points of interest on employment law
13-April-2015
13-April-2015 14:08
in General
by Admin
The points of interest, from an employment law perspective, of the Budget announced on 18 March 2015 are as follows:
• The government has accepted the Low Pay Commission's recommendations, and will increase the national minimum wage to £6.70 this autumn with a view to it being over £8 by 2020.
• National insurance contributions (NICs) will be abolished for under 21 year olds this April. In April 2016, NICs will be abolished for employing a young apprentice. In the next Parliament, Class 2 NICs will be abolished for the self-employed.
• The government welcomed the final report of the Office of Tax Simplification on employment status and stated it will respond to the recommendations in the next Parliament.