Minimum changes to payroll???

7 Mar 2017

New National Minimum Wage (NMW) and National Living Wage (NLW) rates come into effect from 1st April 2017 - Find out how this will afffect your payroll....

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Bookkeeping and Payroll

The new National Minimum Wage (NMW) and National Living Wage (NLW) rates are due to come into effect on 1 April 2017. The hourly rate of the NMW will increase to £7.05 from £6.95 for adults aged between 21 and 24 years old. The rate for 18-20 year olds increases to £5.60 from £5.55 and the rate for workers above the school leaving age but under 18 will increase to £4.05 from £4.00. The NMW rate for apprentices increases to £3.50 from £3.40. The National Living Wage is the minimum hourly rate that must be paid for those workers aged 25 or over. From 1 April 2017 the National Living Wage will increase to £7.50 from £7.20.