New national minimum wage rates come into force on 1 October 2012.
- The adult rate will increase by 11p to £6.19 an hour.
- The rate for apprentices will increase by 5p to £2.65 an hour.
Business secretary Vince Cable agreed with the Low Pay Commission’s recommendation that there would be no benefit in increasing the rate for 16 – 20 year olds as this would make it more difficult for young people to find emplyment, therefore, there has been no change in the following rates:
- The rate for 18-20 year olds will remain at £4.98 an hour.
- The rate for 16-17 year olds will remain at £3.68 an hour.
Extract taken from our 2012 Spring edition Tax newsletter – if you would like to subscribe please leave your details here.