The National Living Wage applies to employees aged 25 or over.
The National Minimum Wage applies to employees aged 24 and under.
Increases in the National Living Wage and the National Minimum Wage came into effect on the 1st of April 2017.
The National Living Wage rates are now as follows:
Employees aged 25 and over £7.50 per hour
The National Minimum Wage rates are now as follows:
Employees aged 21 to 24 £7.05 per hour
Employees aged 18 to 20 £5.60 per hour
Employees aged 16 to 17 £4.05 per hour
Apprentices aged 16 to 18 £3.50 per hour
Apprentices aged 19 (in their first year) £3.50 per hour
The Government has warned that employers who fail to comply with the law will be prosecuted and could be heavily fined.
For additional information see www.gov.uk/national-minimum-wage-rate
With presentation and Q&A from Barclays Bank on the impact of faud on small businesses.
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