Chronicle Payroll Update

Chronicle Payroll

Today the Chancellor announced 2 key changes for payroll that employers need to be aware of.

National insurance for employees will decreased to 10% from 6th January 2024.

There was also a change to the national living wage, which will now apply for employees 21 and over and the hourly rate will be £11.44 which is a 9.8% increase.

With our cloud payroll solution, we will automatically have the national insurance changes in the system from 6th January 2024.

From April 2024, we will continue to flag employees who are accidentally paid below the hourly rate for their age, meaning if an employee changes age, you won’t be caught out.

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