National Minimum Wage 2014

Most workers in the UK over school leaving age are entitled to be paid at least the National Minimum Wage (NMW). There are no exemptions for smaller businesses; they should still pay their workers the NMW. The NMW tends to increase in October each year.

Since October 2013, the rates have been:

• £6.31 for workers 21 and over
• £5.03 18 - 20 years
• £3.72 for 16-17 years, who are above school leaving age but under 18
• £2.68 for apprentices under 19 or 19 or over who are in the first year of apprenticeship.

But from October 2014, the rates will be as follows:

• £6.50 for workers 21 and over
• £5.13 18 - 20 years
• £3.79 for 16-17 years, who are above school leaving age but under 18
• £2.73 for apprentices under 19 or 19 or over who are in the first year of apprenticeship.

It is important to note that these rates, which come into force 1 October 2014, apply to pay reference periods beginning on or after that date.

Date published 29 Aug 2014

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.