Trueman Brown are a small firms of accountants based in Thurrock, Essex. Accountants who believe in keeping their clients up-to date with the latest developments.
Warning to employers! – don’t forget that the National Minimum Wage (NMW) and Living Wage (NLW) is increasing from 1st April 2017.
The new rates will be as follows:-
- 25 years and old – NLW will increase from £7.20 to £7.50;
- 21 – 24 year olds – NMW will increase from £6.95 to £7.05 per hour;
- 18 – 20 year olds – NMW will increase from £5.55 to £5.60 per hour;
- Over compulsory school age but not yet 18 – NMW will increase from £4.00 to £4.05 per hour;
- Apprentice rate (for apprentices under the age of 19 or 19 and over but in the first year of apprenticeship) – NMW will increase from £3.40 to £3.50 per hour.
This is the first occasion that the NMW will automatically change from 1st April of each tax year in alignment with the changes to the NLW.
Employers should keep up-to-date with any changes to the NMW. It has been our experience that HMRC will challenge any employer who does not pay the NLW and NWM, and they name and shame employers who do not comply.
If you need any further advice then please contact us here.