The National Living Wage and the Minimum Wage will be increasing on the 1st April 2017.
As from April 2017 both the MW and NLW will increase each year in April instead of October, going forward.
You will need to prepare for the changes and ensure you are paying your employees the new rates.
From the 1st April 2017 the Minimum Wage rates will increase as below:
- 25+ year olds – NMW (National Living Wage) will increase from £7.20 to £7.50 per hour
- 21 – 24 year olds – MW will increase from £6.95 to £7.05 per hour
- 18 – 20 year olds – MW will increase from £5.55 to £5.60 per hour
- 16 – 17 year olds – MW will increase from £4.00 to £4.05 per hour
- Apprentice rate (for apprentices under the age of 19 or 19 and over but in the first year
of apprenticeship) – MW will increase from £3.40 to £3.50 per hour
N.B. Don’t forget that failure to pay the correct rate could lead to a penalty charge of up to £20,000 for each member of staff underpaid.