Be Aware of the Minimum Wage Increase.
Minimum wage is on the rise from 1st October 2014, please see your new rates below:
- Adult hourly rate of the minimum wage will increase from £6.31 to £6.50
- Development rate (which covers workers aged 18-20 years) is up 2% from £5.03 to £5.13
- Rate for 16 to 17-year-olds rises by 2% from £3.72 to £3.79/hour
- apprentice minimum wage rate will go up by just 5p from £2.68 to £2.73 per hour, – all apprentices under the age of 19 and those aged 19 and over in the first 12 months of their apprenticeship
Don’t forgot to make these important changes before your next payroll is due after the 1st October.
If this news screams another headache for you did you know from as little as £21 a month TI Payroll and Accounting can deal with your payroll for you, making sure that you are up to date on legislation without you having to worry about it.
If you would like a quote please contact me or one of the Team on 01229 490231.
Have a great weekend
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