If you are an employer, you need to take account of the new levels of the National Minimum Wage increase coming into effect on 1st April, 2020.
The hourly rate for the minimum wage depends on your age and whether you’re an apprentice.
The minimum wage increases each April.
To qualify you must:
- Be school leaving age to get the National Minimum Wage
- Be 25 or over to get the National Living Wage.
The National Living Wage will increase from £8.21 to £8.72 for workers aged 25+.
- workers aged 21–24 – from £7.20 – £8.20 per hour
- workers aged 18–20 – from £6.15 – £6.45 per hour
- workers aged 16–18 – from £4.35 – £4.55 per hour
- apprentice rate – from £3.90 – £4.15 per hour
The Apprentice rate
Apprentices are entitled to the apprentice rate if they are:
- aged 19 or under
- 19 or over but in the first year of their apprenticeship.
However if they are aged 19 or over and/ or have completed the first year of the apprenticeship they qualify to receive the NMW.
Visit: https://www.gov.uk/national-minimum-wage-rates to find out more.
Information about employers and the minimum wage: https://www.gov.uk/national-minimum-wage/employers-and-the-minimum-wage.
If you have further questions on this or another accountancy topic contact AJR & Co Ltd to arrange a free 30 minute consultation