Showing posts with label payroll. Show all posts
Showing posts with label payroll. Show all posts

Monday, September 9, 2013

Minimum wage increase

It's this time of the year where the minimum wage usually increases. This year is no exception.

The National Minimum Wages (NMW) rates are due to increase on 1st October 2013 to the following:

  • £6.31 – the main rate for workers aged 21 and over
  • £5.03 – 18-20 year old rate
  • £3.72 – the 16-17 year old rate for workers above school leaving age but under 18
  • £2.68 – the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship

Last year, only the over 21s and Apprentices saw an increase in the NMW. But this year, all of the rates have increased.

Tuesday, March 27, 2012

Important changes for Employers

From 6th April 2012 the qualifying period for employees to bring an unfair dismissal claim will be extended from 1 year to 2 years. The Government has said that it intends to increase the qualifying period for unfair dismissal to "provide more time for employers and employees to resolve difficulties, give employers greater confidence in taking on people and ease the burden on the employment tribunal process". Also, as every year, statutory thresholds are changing. Here are the important dates to be aware of:

On 1st February 2012
  • Statutory redundancy payments - the maximum amount of a week's pay used to calculate a statutory redundancy payment increased to £430
  • Unfair dismissal compensatory award increased from £68,400 to £72,300
  • Guarantee payments payable to an employee increased from £22.20 to £23.50 per day

Wednesday, September 14, 2011

Minimum Wage to Increase in October

National Minimum Wage (NMW) is increasing effective from 1st October 2011. The age at which you become entitled to the main rate was reduced from 22 to 21 on 1st October 2010. The apprentice rate was introduced on the same date. From 1st Ocotober 2011 the minimum hourly rates are being raised as follows:
  • £5.93 to £6.08 an hour for workers aged 21 and over 
  • £4.92 to £4.98 an hour for workers aged 18 to 20 
  • £3.64 to £3.68 an hour for workers aged 16 to 17 
  • £2.50 to £2.60 an hour for apprentices