29 Mar 2017
~The new National Minimum Wage (NMW) and National Living Wage (NLW) rates are due to come into effect on 1 April 2017. This is the first time that the NMW and NLW rates will be uprated in parallel. Historically, the NMW increased annually in October and explains the smaller than usual increase in the NMW as the last increases were only effective on 1 October 2016.
The hourly rate of the NMW will increase to £7.05 (a rise of 10p) for adults 21-24 year olds. The rates for 18-20 year olds increase to £5.60 (a rise of 5p) and the rate for workers above the school leaving age but under 18 will increase to £4.05 (a rise of 5p). The NMW rate for apprentices increases by 10p to £3.50.
The new NMW rates mirror the recommendations made by the Low Pay Commission (LPC) which were accepted in full by the Government. The independent Low Pay Commission (LPC) was established following the National Minimum Wage Act 1998 to advise the government on the NMW. It is made up of representatives from all sides of industry.
The NLW came into effect on 1 April 2016 and has been set at £7.20 per hour. The National Living Wage is the minimum hourly rate that must be paid for those aged 25 or over. From 1 April 2017 the National Living Wage will increase by 30p to £7.50. This represents an increase of 4.2%.
The LPC did consider the uncertain economic prospects as a result of Brexit over both the short-term and long-term however the wage rates have increased in line with their original pre-Brexit intentions. This was done with the caveat that should the economic situation worsen the minimum wage rates may not increase as expected in the future.
Vada Studios is a very successful music recording facility. The business had outgrown their existing premises, and had a vision to create one of the top residential recording studios in the UK.
A highly successful restaurant, butcher and retail business.
GJA have been the retained accountants for this property investment and development group for over 20 years. Imminently due to dissolve companies.
Proco approached us with an idea of becoming a distributor of a high-end product in the UK, supplying vinyl nationally.
In 2008 Tom Floate left his employer to set up his own business providing website services. Initially forming a partnership with his wife Rachel, they began trading IO Studios from their home office.
Barry the Butcher is a very successful wholesale butchery and retail business.
Grenfell has a broad range of experience and knowledge, working with clients from many different industry sectors. Grenfell is also the senior audit partner in the practice.
Chris works with a diverse profile of owner managed businesses to assist them to grow and retain wealth. Although Chris works with clients from a wide range of sectors, he has particular expertise in property, catering, consultancy and professional services.
Managing Director ACMA
Alex has worked for Grenfell James since 2002 and became a director in 2013. Overseeing our internal operations, he manages the flow of work and ensures we hit our strict deadlines. Alex also manages a portfolio of clients, with expertise in manufacturing and service businesses.
Operational Director MAAT
David has worked for Grenfell James since 2006. He heads up our tax team and is highly experienced with expertise in different industries and sectors.
Tax Director ACCA
Hannah qualified in 2016, having worked for the company since 2009. She acts as a client manager for a range of businesses, with expert knowledge of the equestrian and rural sector. Hannah also manages our payroll team.
Client Manager ACCA
Mckechnies independent tea and coffee bar.
Regent Square Estates
Proco Coatings & Laminates
Paul Stanley. A S Contracts Ltd.
Andrew Knight. The Howard Arms Ilmington
Dean. Wootton IT
Roy Ferguson. The Perfect Cosmetics Company.
Mr J McCarthy
Mr I Cameron
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