Blog Search

Archives

NMW and NLW increases take effect

New rates for the National Minimum Wage (NMW) and National Living Wage (NLW) (aged 25 and over) apply from 1 April 2018, and employers must ensure that they implement them accordingly. The rates are as follows:

– 25 and over – £7.83 per hour;
– 21 – to 24-year-olds – £7.38 an hour;
– 18 – to 20-year-olds – £5.90 an hour;
– under 18s – £4.20 an hour; and
– Apprentice rate – £3.70 an hour.

Severe penalties may be imposed for failure to comply with NMW/NLW obligations. Broadly, the penalty percentage which may be imposed for non-compliance is now 200%. The maximum penalty is a hefty £20,000 per worker, although it may be reduced by 50% if the unpaid wages and the penalty are paid within 14 days.

For further information on the NMW, see the GOV.UK website at https://www.gov.uk/national-minimum-wage-rates.

  • Latest news and testimonials

  • Latest News

  • Testimonials

    • Partner – Solicitor

      I have worked with SBL over the last 10 years on numerous matters involving owner-managed business. They are professional, personable, knowledgeable and work incredibly hard to provide the best advice to their clients. I would have no hesitation in recommending SBL.

      Read more
    • Director – Networking Company

      SBL are a professional Accountancy Firm and are exceptionally up to date with all legislations.  SBL know their clients extremely well and what will work best for their business. SBL understands business and how business works and they deliver the very best considered professional advice.

      Read more
    • Director – Retail/Fashion Company

      SBL have provided auditing and other accounting services for our company for more than 10 years. They not only offered excellent support from a professional accountant company, but also delivered forward-thinking advice on how to improve our business.