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12
Jan

Don't get caught out by minimum wage trap!

Posted on in Payroll
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April 2017 sees the second compulsary increase in the minimum wage in the last 6 months.

The government has had at it's disposal, the power to impose penalties on businesses who do not comply with the legislation. These fines can be up to 200% of the wages owed, up to a maximum of £20,000 per worker and with a minimum payment of £100 per worker. In addition, a company director could be banned for up to 15 years for failure to comply with the potential for HMRC to 'name and shame' in the public domain.

Rate rises

The rise in hourly rates is captured here:

For pay periods starting after25 and over21 to 2418 to 20Under 18Apprentice
1 April 2017 £7.50 £7.05 £5.60 £4.05 £3.50
*1 October 2016 £7.20 £6.95 £5.55 £4.00 £3.40
1 April 2016 £7.20 £6.70 £5.30 £3.87 £3.30

*Current rates at time of writing – source GOV.UK

 

In future years, any changes to the national minimum wage and national living wage will take effect from 1 April rather than the current 1 October. It is important that regular checks of each employee's wage rates, dates of birth and also apprentice rates are undertaken to avoid running the risk of underpaying workers.

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