The National Minimum Wage is increasing as of 1 October 2013.
The wage your employees are entitled to depends on their age and whether they are an apprentice – they must be at least school leaving age.
New National Minimum Wage Rates
|Year||21 and over||18 to 20||Under 18||Apprentice*|
|2013 (from 1 October)||£6.31||£5.03||£3.72||£2.68|
*This rate is for apprentices under 19 or those in their first year. If you’re 19 or over and past your first year you get the rate that applies to your age.
What do you need to do?
Review your employees’ hourly rates and make sure they all meet the new Minimum Wage rates at least.
What happens if you don’t?
HM Revenue & Customs is targeting employers who don’t pay the National Minimum Wage.
Failure to pay the National Minimum Wage can result in penalties of up to £5,000, prosecution, and even being named and shamed by HMRC.
Check your employee wage rates are compliant today. If you need any help or advice dealing with your business’s payroll affairs, then please contact Accountancy Edge.