National Minimum Wage - are you paying the correct amount?
H M Revenue & Customs have announced that its next campaign is based on the National Minimum Wage (“NMW”). It is a chance for employers to check that they are paying the correct amount and, if they are not, to contact HMRC to put matters right.
If you have any doubts about the operation of the NMW we at robinson+co strongly recommend that you contact us immediately so that we can check the position. The penalties for not applying NMW correctly are harsh but “coming clean” and use of the disclosure opportunity can help to ease the burden. Ring your normal contact at robinson+co on 01900 603623 for advice as appropriate
Remember that the NMW will increase on 1 October 2015 to the following rates:
- Workers aged 21 and over £6.70 per hour
- 18 to 20 year olds £5.30 per hour
- 16 to 17 year olds £3.87 per hour
- Apprentices £3.30 per hour
However, there was a shock for employers in the Summer Budget on 8 July when the Chancellor announced that on 1 April 2016 the NMW will – effectively – increase for those aged 25 and above to £7.20 per hour. (See our article here).
This is likely to provide problems for employers who rely on a workforce paid at the NMW. If you are affected by this we will be discussing the problems with you as we see you but if you wish to expedite this discussion please ring or email your normal robinson+co contact.
Gosforth 019467 25808
Whitehaven 01946 692423
Workington 01900 603623