UK National Minimum Wage (NMW) Changes

Nov. 1, 2012 - PRLog -- Provided by our Accounting, Tax & Bookkeeping Partner, (http://www.employersjobs.com/Partnerhome.aspx) www.TotalAccounting.co.uk, here are the new national minimum wage (NMW) changes that came into force on the 1st of October 2012. They are as follows:

£6.19 per hour for workers aged 21 and over - a rise of 11p
£4.98 per hour for 18-20 year olds - no change
£3.68 per hour for workers above school leaving age but under 18 - no change
£2.65 per hour for apprentices - a rise of 5p

In addition to this if your employer provides you with accommodation, they can count some of its value towards your NMW pay. This is called the accommodation offset. From October, the maximum that employers can count towards NMW pay will be £4.82 - a rise of 9p.

About Totalaccounting.co.uk - (http://www.totalaccounting.co.uk/) a team of accountants who specialise in bookkeeping, payroll bureau, final accounts and taxation to a range of business types and sizes. Total Accounting clients outsource their accounting department to them saving an average of 35% while ensuring they are fully compliant with current legislation and supported by a full team of experts. Fully paperless since 2004 and in 2009 they improved this with the development of their secure online document storage system, which provides clients with instant access to their current and historic financial information.