From 1 October 2015 the adult National Minimum Wage (NWM) rate is to increase by 20 pence and the apprenticeship rate will see the largest ever increase.
The Government has announced that from 1 October 2015:
- the adult rate will increase by 20 pence to £6.70 per hour
- the rate for 18 to 20 year olds will increase by 17 pence to £5.30 per hour
- the rate for 16 to 17 year olds will increase by 8 pence to £3.87 per hour
- the apprentice rate will increase by 57 pence to £3.30 per hour
- the accommodation offset increases from the current £5.08 to £5.35.
This is the largest real-terms increase in the National Minimum Wage since 2007, and more than 1.4 million of Britain’s lowest-paid workers are set to benefit.
The government has rejected the LPC’s recommendation for the apprentice rate. The new apprenticeship rate will be set at £3.30 and represents a rise of 57 pence, the largest ever increase in the National Minimum Wage for apprentices. By implementing a rate higher than the LPC’s recommendation, the government intends that apprenticeships will deliver a wage that is comparable to other choices for work.
Business Secretary Vince Cable is also planning to launch the National Minimum Wage Accelerator – an online tool which will make it easier to compare rates of pay across regions, sectors and occupations. It will take data from the annual survey of hours and earnings and display information about pay so that people are able to compare wages with others in their sector and region.
For further information about how Bevan and Buckland can help your company with management of the payroll contact Tina Davies on 01792 410100 or by email at email@example.com.
MCIPP(dip) Member Chartered Institute of Payroll Professionals
Tina Davies is manager of Bevan & Buckland’s Swansea Payroll Department, we also operate a payroll bureau service from the firm’s Pembroke and Haverfordwest offices.
Bevan Buckland LLP Payroll Services Tel: 01792 410117
Bevan Buckland LLP Accountants Swansea Tel: 01792 410100
Bevan Buckland LLP Accountants Haverfordwest Tel: 01437 760666
Bevan Buckland LLP Accountants Pembroke Tel: 01646 682383
Bevan Buckland LLP Accountants Carmarthen Tel: 01267 233115
Bevan Buckland LLP Accountants St David’s Tel: 01437 720352