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A Rise in the National Living Wage – April 17

Posted by Charlotte Morley in Accounts, Business, News, The Business Hut, Tips | 0 comments

From 1st April 2017 The National Living Wage (NLW) was given a little bump! The rise to £7.50 per hour is in line with Chancellor Phillip Hammond’s Autumn Statement announcement in November. The National Minimum Wage (NMW) is the minimum pay per hour most workers are entitled to by law. The rate will depend on a worker’s age and if they are an apprentice.

National Minimum Wage
The National Minimum Wage (NMW) is the minimum pay per hour most workers are entitled to by law. The rate will depend on a worker’s age and if they are an apprentice.

The National Living Wage
The Government’s National Living Wage was introduced on 1 April 2016 for all working people aged 25 and over, and is currently set at £7.50 per hour. The current National Minimum Wage for those under the age of 25 still applies.

The hourly rate for the National Living Wage and National Minimum Wage (NMW) is dependent upon your age and whether or not your are an apprentice.

 


Please see below the current rates and the rates from April 17:

Year 25 and over 21-24 18-20 Under 18 Apprentice*
2016 £7.20 £6.95 £5.55 £4.00 £3.40
April 2017 £7.50 £7.05 £5.60 £4.05 £3.50


Exemptions
There are a number of people who are not entitled to the NMW/NLW.

  • Self-employed people.
  • Volunteers or voluntary workers.
  • Company directors.
  • Family members, or people who live in the family home of the employer who undertake household tasks.

All other workers including pieceworkers, home workers, agency workers, commission workers, part-time workers and casual workers must receive at least the NMW.

If you have any queries about the wage increases please do get in touch. We’d be happy to help. Email us at hello@thebusinesshut.co.uk or phone 01858 289189

If you want to talk to us about your requirements for a bookkeeper or accountant or moving to cloud accounting software Xero, we offer completely free of charge business consultations so we can get to know each other and see if The Business Hut is a good fit for your own business.

We’ll keep you posted on any further updates!

Thanks for reading

Charlotte

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