Request a Callback

CALL TO FIND OUT WHAT
WE CAN DO FOR YOUR BUSINESS

0151 630 6747 or 01244 300400

 

NMW and NLW increases take effect

Newsletter issue - April 2018.

New rates for the National Minimum Wage (NMW) and National Living Wage (NLW) (aged 25 and over) apply from 1 April 2018, and employers must ensure that they implement them accordingly. The rates are as follows:

  • 25 and over - £7.83 per hour;
  • 21 - to 24-year-olds - £7.38 an hour;
  • 18 - to 20-year-olds - £5.90 an hour;
  • under 18s - £4.20 an hour; and
  • Apprentice rate - £3.70 an hour.

Severe penalties may be imposed for failure to comply with NMW/NLW obligations. Broadly, the penalty percentage which may be imposed for non-compliance is now 200%. The maximum penalty is a hefty £20,000 per worker, although it may be reduced by 50% if the unpaid wages and the penalty are paid within 14 days.

For further information on the NMW, see the GOV.UK website at https://www.gov.uk/national-minimum-wage-rates.

Fixed quotes
Free consultation
Make more, work less

Your
business
size?

How confident do you feel about dealing with tax?

We'll help equip you with professional expert advice, so if you want to know more about tax implications of different business structures select a link which best describes your business.