The National Minimum Wage Regulations come into force on 1 April 2016. It is important to check that all members of the team are being paid above the new thresholds. Read on for more information…
The National Living Wage
These regulations bring into force the National Living Wage, which is the National Minimum Wage plus a “premium” for workers aged 25 and over. The aim of these new regulations is to achieve a National Living Wage of over £9 by 2020.
What are the new rates?
Aged 25 and over £7.20 per hour
Aged 21-25 £6.70 per hour
Aged 18-21 £5.30 per hour
Aged 18 and under £3.87 per hour
Apprentices £3.30 per hour
Which elements of pay are not included?
- Premiums for overtime and shift work
- Tips, service charges and gratuities
- Benefits in kind
- Expenses
How much salary can I take as a business owner?
There will be no changes to the basic rate, this will still be £671 in 2016/17. If you would like more advice on this, please let us know.
Get in touch
If you have a query email us on info@thewowcompany.com or call 01264 721 670
