The new national minimum wage (NMW) comes into force tomorrow (1st October 2010). This is the lowest hourly rate you can pay your employees as set by law. The rates that will apply from tomorrow are:-[private_basic]
- 21 and over: £5.93
- 18-20: £4.92
- 16 & 17: £3.64
- Apprentice rate: £2.50 (applies to apprentices aged under 19, or those aged 19 or more in the first year of their apprenticeship.
Did you realize the Tax Office can fine you up to £5,000 if you do not pay the statutory NMW? So watch out and make sure you change the payroll from tomorrow.
If you would like some help with your payroll, either to change it for the new NMW or generally, please do not hesitate to ring on 0800 047 0731.