Changes to NLW and NMW from April 2017

From April 2017, the National Living Wage (NLW) for the over 25s is being increased to £7.50 per hour. This is an increase from the current NLW rate set in October 2016 of £7.20 an hour. For the over 25s, this will represent a wage increase of just over 4%.

The National Minimum Wage (NMW) will also increase from the same date to:

·         For 21 to 24 year olds – from £6.95 to £7.05 per hour

·         For 18 to 20 year olds – from £5.55 to £5.60 per hour

·         For 16 to 17 year olds – from £4.00 to £4.05 per hour

·         For apprentices – from £3.40 to £3.50 per hour

The government will also be spending an additional £4.3m to ensure that employers are complying with their legal obligation to pay the NMW.

Original post by Latest Taxation News and many thanks to them and their entry and picture of their BMX Bike