The new minimum wage came into effect today, raising the pay for 21 year olds and over to £6.50. This increases the annual wage for a worker on a 40 hour week to £13,500.
There has also been an increase for Apprentices, Under 18’s and 18 to 20 year old. The table below shows the previous and new minimum wages for each group.
| Year | 21 and over | 18 to 20 | Under 18 | Apprentice* |
| 2014 (current rate) | £6.50 | £5.13 | £3.79 | £2.73 |
| 2013 | £6.31 | £5.03 | £3.72 | £2.68 |
Payroll can be complicated and time consuming. Choosing a dedicated Payroll Bureau has many advantages.
The importance of bookkeeping for a growing business can never be overstated. As your business expands, you’ll probably find that you are too busy to look after your business financial accounts. It’s certainly a great Read more…
Bookkeeping for start-ups – we can already hear what you are thinking – it’s an area that you don’t have to bother about initially! We do understand that with a new business, there seems to be Read more…