The national minimum wage rates from 1 April 2017 will be:
Hourly rate for those aged 25 and over will be £7.50
Hourly rate for those aged 21, 22, 23 and 24 will be £7.05
Hourly rate for those aged 18, 19 and 20 will be £5.60
Hourly rate for those aged 16 and 17 will be £4.05
The apprentice rate (for apprentices aged 16, 17 and 18, and those aged 19 and over who are in their first year) will be £3.50
Failure to pay the national minimum wage can result in a company director being banned for up to 15 years and penalties on the business. The penalties are up to 200% of the wages owed, to a maximum of £20,000 per worker, with a minimum payment of £100 per worker underpaid.
For help or assistance in applying these changes or any other payroll queries, please contact Lee Reynolds, Payroll Manager.