The National Minimum Wage is updated every year on 1 October. If you are running your October payroll, make sure that you have applied the new rates to avoid receiving penalties from HMRC.
The new rates are as follows:
– The standard adult rate (for workers aged 21+) is now £6.50/hour (from £6.31)
– The development rate (for workers aged 18-20) is now £5.13/hour (from £5.03)
– The young workers rate (for workers aged under 18 but above the compulsory school age who are not apprentices) is now £3.79/hour (from £3.72)
– The rate for apprentices is now £2.73/hour (from £2.68)
– The accommodation offset is now £5.08/day (from £4.91).
If you are unsure about how to apply the National Minimum Wage, or would like to discuss its implications for your business, please get in touch to speak to one of our expert employment law solicitors today.