Draft regulations to increase the National Minimum Wage published

Source: The National Archives | | 05/02/2020

The draft National Minimum Wage (Amendment) Regulations 2020 have been laid before Parliament and are due to come into force on 1 April 2020. The regulations will increase the various rates of the National Minimum Wage (NMW) and National Living Wage (NLW) as follows:

  • the NLW rate for workers aged 25 and over will rise from £8.21 to £8.72 per hour
  • the NMW standard rate for workers aged 21 to 24 will rise from £7.70 to £8.20 per hour
  • the NMW development rate for workers aged 18 to 20 will rise from £6.15 to £6.45 per hour
  • the NMW young workers rate for those aged 16 and 17 will rise from £4.35 to £4.55 per hour
  • the NMW apprentice rate for apprentices under 19 years of age or those aged 19 and over but in the first year of their apprenticeship will rise from £3.90 to £4.15 per hour
  • the daily offset for the provision of living accommodation will rise from £7.55 to £8.20 per day.


 

Latest News

Tax Diary April/May 2020
31/03/2020 - More...
1 April 2020 - Due date for Corporation Tax due for the year ended 30 June 2019. 19 April 2020 - PAYE and NIC deductions due for month ended 5 April 2020. (If you pay your tax

Converting assets into cash in the bank
31/03/2020 - More...
During and after any period when economic activity is depressed, companies that survive the process are those that manage their cashflow effectively. A number of businesses will

Deferring VAT and tax payments
31/03/2020 - More...
As part of the government’s response to assist businesses during the COVID-19 crisis is the offer to defer VAT and self-assessment tax and NIC payments. VAT HMRC will not

Search


Newsletter

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

» Sign up for the Newsletter
» Login