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National Minimum Wage Increase

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by Startacus Admin

Here at Startacus we do like a good reminder.

After all if like us you've a fab but reasonably flat / small team of paid employees the chances are there's a good deal of multitasking and 'pulling in all directions' going on! More Money at Minimum Wage

So, for those of you with a responsibility towards wages, payroll, administration, cash-flow, managing the books - and probably a whole lot more, take note of this very important reminder:

National Minimum Wage increases from today...yep a Wednesday.

It's not a massive increase, and some of you folk may be able to pay the majority of said employees above the bottom line, but for for those of us who pay wages at NMW level, take note of the changes below*

Year                                                           21 and over                 18 to 20            Under 18                   Apprentice*
2014 (from 1 October)                                  £6.50                         £5.13                £3.79                          £2.73
2013 (current rate)                                         £6.31                         £5.03                £3.72                          £2.68

*Stats taken from gov.UK website

Of course if you pay monthly this might be an easy change to make. Weekly paid staff however, appreciate this change starts midweek, so take that into 'account' when having fun with real time information, your calculator, and your business bank account.

So National Minimum Wage reminder done, you might also want to read Our latest financial news roundup for small businesses and startups.

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Published on: 29th September 2014

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