Draft regulations to increase the national minimum wage published

Source: The National Archives | | 11/02/2018

The draft National Minimum Wage (Amendment) Regulations 2018 have been laid before Parliament and are due to come into force on 1 April 2018. 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 £7.50 to £7.83 per hour
  • the NMW standard rate for workers aged 21 to 24 will rise from £7.05 to £7.38 per hour
  • the NMW development rate for workers aged 18 to 20 will rise from £5.60 to £5.90 per hour
  • the NMW young workers rate for those aged 16 and 17 will rise from £4.05 to £4.20 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 £3.50 to £3.70 per hour
  • the daily offset for the provision of living accommodation will rise from £6.40 to £7.00 per day.


 

Latest News

Gifts out of disposable income
12/02/2019 - More...
There is an annual Inheritance Tax exemption of £3,000 for gifts. This exemption can also be carried forward to the

What work is covered by the CIS scheme?
12/02/2019 - More...
The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the

When do you pay Capital Gains Tax?
12/02/2019 - More...
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable gains made

Search News


Newsletter

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