MONEYTREE FINANCIAL
  • Accounting Services
    • Book-keeping
    • Management accounts
    • Statutory accounts
  • Taxation Services
    • Self-assessment
    • Corporation Tax
    • Payroll (PAYE)
    • Making Tax Digital
    • VAT
    • UK Tax Refunds
New National Minimum Wage rates

With effect from 1st October 2014 the national minimum wage (NMW) rates will be as follows:

  • for adults, £6.50 per hour (previous rate £6.31 per hour);
  • for 18-20 year olds, £5.13 per hour (previous rate £5.03 per hour);
  • for 16-17 year olds, £3.79 per hour (previous rate £3.72 per hour);
  • for apprentices, £2.73 per hour (previously £2.68 per hour).
Directors: its worth remembering that the NMW only applies to directors who have a contract of employment with the company.

Employees: regardless of whether they have a contract of employment or not, employees, including part timers, casual labourers, agency workers and those who work from home, must be paid at or above NMW rates.

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E: INFO@MONEYTREEFINANCIAL.CO.UK
T:  +44 (0) 
333 567 7717
M: +44 (0) 7824 704 028
MoneyTree Financial
MoneyTree Financial
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  • Accounting Services
    • Book-keeping
    • Management accounts
    • Statutory accounts
  • Taxation Services
    • Self-assessment
    • Corporation Tax
    • Payroll (PAYE)
    • Making Tax Digital
    • VAT
    • UK Tax Refunds