National Minimum Wage Increase

September 1, 2015

 

Remember, from 1 October 2015 the National Minimum Wage will be increasing as follows:

 

  • £6.70 for workers aged 21 and over

  • £5.30 for workers aged 18-20 years

  • £3.87 for workers aged 16-17 years above school leaving age but under 18

  • £3.30 for apprentices in their first year of their apprenticeship

 

Don’t forget, you are not required to pay the NMW to employees who are family members and live in the family home. You also won’t have to pay NMW to a Director (unless they have a contract of service) or volunteers.

 

Don’t confuse the NMW with the National Living Wage (NLW) provisions coming into force on 6 April 2016 affecting employees 25 and over which we will report on at a later date. 

 

 

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Chartered Accountants

Parkers Accountants and Chartered Tax Advisers is a trading name of Parkers Accountants and Tax Advisers Limited, a company incorporated in England and Wales under company number 07958162. Details of the company's officers and statutory registers can be inspected at its the registered office at Unit 9, Arkwright Court, Commercial Road, Darwen, Lancashire, BB3 0FG. We are members of and regulated by the Institute of Chartered Accountants in England and Wales (www.icaew.com​) and the Chartered Institute of Taxation (www.tax.org.uk​). ​Any advice, illustrations or information contained within this website is not intended to be relied upon and further consultation should be sought. Parkers Accountants and Tax Advisers Limited cannot accept any loss occasioned through reliance upon information contained on this website.