National Minimum Wage Increase

From today (1 October 2014) national minimum wage will rise to £6.50 for people age 21 and over (up 19p), to £5.13 for 18-20 year-olds (up 10p), to £3.79 for those under 18 (up 7p) and to £2.73 for apprentices who are in their first year or aged 16-18. It is the biggest increase since the 2008 financial crisis.

It is vital employers who previously had employees on, or near, the minimum wage ensure their payrolls are updated accordingly from October onwards.

National minimum wage rates:

  • 21 and over – £6.50
  • 18 to 20 years of age – £5.13
  • Under 18 – £3.79
  • Apprentice* – £2.73

*This rate is for apprentices aged 16 to 18 and those aged 19 or over who are in their first year. All other apprentices are entitled to the National Minimum Wage for their age.

Unsure how this affects you? That’s where Nine Ashes Bookkeeping can be of help. We provide payroll services to small and medium sized businesses in Essex – serving the Brentwood, Chelmsford, Billericay, Harlow, Epping, Ongar and Ingatestone areas.

Get in touch today if you’d like to discuss our payroll services and how we can be of help to you and your business.

 

 

Got an Enquiry?

Call us on
01277 823688

or send us an email today!

Latest News

7
Jul

Scam emails from ‘HM Revenue & Customs’

How to recognise legitimate communications from HMRC versus phishing/bogus emails and text messages…

1
Jul

Help and Support from HMRC for Sole Traders

Learn more about the online support HMRC provides sole traders – from webinars to videos they cover a wealth of topics to help the self-employed succeed…

15
Apr

Employment allowance changes

New employment allowance rules have come into affect – meaning many small limited companies are no longer eligible for the the £3,000 savings.