Umbrella Company News

UK National Minimum Wage will increase in October 2014

As announced in the budget in March 2014, the UK National Minimum Wage will increase in October 2014.  Currently set at £6.31 for those over the age of 21, the rate will increase by 19p to £6.50, an increase of 3%, following recommendations of the Low Paid Commission.

Speaking in March, Business Secretary Vince Cable said “The recommendations I have accepted today mean that low-paid workers will enjoy the biggest cash increase in their take-home pay since 2008.”

In fact, this increase is the first beyond inflation since 2007.

Increases are also being implemented across other areas of the workplace.  The development rate for 18-20 year olds will increase from £4.98 to £5.04, and for 16-17 year olds will increase from £3.68 to £3.72.  For apprentices under 19, or in their first year of an apprenticeship, the rate will increase from £2.65 to £2.68.

National Minimum Wage legislation is always adhered to by Green Lantern’s umbrella company, and all workers can be comfortable that their salary will always comply fully.  For more information just give us a call on 0207 164 2116.