New rates for the National Minimum Wage and the National Living Wage were introduced with effect from 1 October 2016
Full details can be found on the HMRC website [gdlr_button href=”https://www.gov.uk/national-minimum-wage-rates” target=”_self” size=”medium” background=”#000000″ color=”#ffffff”]National Minimum Wage[/gdlr_button]
|Year||25 and over||21 to 24||18 to 20||Under 18||Apprentice|
|October 2016 (current rate)||£7.20||£6.95||£5.55||£4.00||£3.40|
For a full time employee aged 25 or over, working a 37.5hour week (7.5 hours a day, 52 weeks a year), this equates to a salary of £14,040 per annum.
For more information, please contact the Dafferns Payroll team