The National Minimum Wage (Amendment) Regulations 2013 have been published in draft form and they will increase the national minimum wage for workers of differing ages from 1 October 2013 as follows:
- The adult rate for workers aged 21 and over will increase from £6.19 to £6.31 per hour.
- The rate for 18-20 year olds will increase from £4.98 to £5.03 per hour.
- The rate for 16-17 year olds will increase from £3.68 to £3.72 per hour.
- The apprentice rate will increase from £2.65 to £2.68 per hour.
- The accommodation offset will increase from £4.82 to £4.91 per day.
How will this affect your business? If we can be of assistance with cash flow forecasting or business planning, do get in touch.