NMW Archives - PMA Accountants

National Minimum Wage Increases from 1st April 2019

Asif2019-09-02T11:22:15+01:00March 29th, 2019|Categories: PAYE|Tags: Employers, National Minimum Wage, NMW, PAYE|

New rates for the National Minimum Wage (NMW) take effect from 1 April 2019, and employers must ensure that they implement them accordingly. The rates are as follows: 25 and over - £8.21 per hour; 21- to 24-year-olds - £7.70 an hour; 18- to 20-year-olds - £6.15 an hour; 16- to 17-year-olds £4.35 an hour; and Apprentice rate - £3.90 an hour. The increased NMW penalty took effect from 1 April 2016 and applies to any notice of underpayment relating to a pay reference period beginning on or after that date. Broadly, the penalty percentage which may be imposed [...]

Real living wage increase takes effect

Asif2019-09-01T11:53:43+01:00December 8th, 2016|Categories: PAYE|Tags: BLOG, NMW, PAYE, RLW|

The real living wage rate has increased by 20p per hour to £8.45 an hour (£9.75 in London), which is higher than the UK-wide official National Living Wage for those over 25, currently set at £7.20, while those under 25 must be paid the national minimum wage (NMW). The Living Wage is independently-calculated each year based on what employees and their families need to live. Employers can choose to pay the real Living Wage on a voluntary basis but it is currently paid by a third of FTSE 100 companies. The rates apply to all workers over 18 in [...]

NMW increases take effect

Asif2019-09-01T11:46:35+01:00October 6th, 2016|Categories: PAYE|Tags: BLOG, NMW|

New rates for the National Minimum Wage (NMW) took effect from 1 October 2016, and employers must ensure that they implement them accordingly. The rates are as follows: 25 and over - £7.20 per hour; 21- to 24-year-olds - £6.95 an hour; 18- to 20-year-olds - £5.55 an hour; 16- to 17-year-olds £4.00 an hour; and Apprentice rate - £3.40 an hour. The increased NMW penalty took effect from 1 April 2016 and applies to any notice of underpayment relating to a pay reference period beginning on or after that date. Broadly, the penalty percentage which may be imposed [...]