NMW coinsYou might have seen in the news that from 1st October 2014 the National Minimum Wage (NMW) rates increase. This change will affect more than a million people working in the UK, who could see their pay rise by £355 a year.

Employers need to be aware of the new rates to ensure that the wages of their employees are audited and adjusted as necessary.

The new NMW rates will be as follows:

  • Adults £6.50 per hour (was £6.31)
  • 18 – 20 year olds £5.13 per hour (was £5.03)
  • 16-17 year olds £3.79 per hour (was £3.72)
  • Apprentices £2.73 per hour (was £2.68)

 

As well as being publicly named and shamed, employers who fail to pay their workers the National Minimum Wage will face higher financial penalties of up to £20,000 as of 7 March 2014.

For payroll related help…

If you are concerned about how to implement the changes or would like to speak to our payroll specialist then contact us on

01737 652 852 or payroll@a4cgroup.co.uk


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