Rates up from October 1st
Click here for the latest changes
Employers need to keep note of the latest changes to the National Minimum Wage, which are applicable from October 1st 2011. The rates for different ages of workers are, ascending order, as follows;
- £2.60 – for apprentices under 19 or 19 or over and in the first year of their apprenticeship
- £3.68 – the rate for 16-17 year olds above school leaving age but under 18
- £4.98 – the rate for 18-20 year olds
- £6.08 – the main rate for workers aged 21 and over
There are a variety of rules governing what payments constitute the minimum wage and how hours and pay are calculated. Check out the relevant page on the HMRC website for more details.
If you aren’t sure how this will affect your business of if you need help calculating new payroll costs then just give us a call on 01384 235549 or email us at email@example.com.
Lewis Smith & Co. – Management Accountants for Dudley, Stourbridge and Wolverhampton