From 1 October 2013 the national minimum wage rates will increase. These rates are a legal right for all workers above the compulsory school leaving age and employers can be fined for not complying.
The new rates are:
• Workers aged 21 and over will increase from £6.19 to £6.31
• Workers aged between 18-20 will increase from £4.98 to £5.03
• Workers aged between 16-17 will increase from £3.68 to £3.72
• Apprentices up to the age of 19 or in the first year of apprenticeship will increase from £2.65 to
£2.68 (unless the rate is specified in the apprentice training contract).
The National Minimum Wage was first introduced to the UK in 1999 by the Labour Party. The rates back then were £3.60 for over 21 year olds and £3.00 for 18-20 year olds.
At Simplyco we keep abreast of all changes that affect contractors and agency workers so that we can keep our customers up to date and compliant.
Simplyco are expert contractor accountants and give their clients straightforward advice. To see how Simplyco could benefit you, please give us a call on 01900 898 440 or email email@example.com.
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