New voluntary Living Wage rates announced for London and the UK
On 31 October 2016 the Mayor of London announced an increase in the new London Living Wage from £9.40 to £9.75 per hour to reflect the higher cost of living facing families in the City. This figure covers all boroughs in Greater London. The UK Living Wage for outside of London is currently £8.45 per hour.
Where employers have signed up to the voluntary Living Wage initiative they should implement the new rate by 1 May 2017.
The current UK-wide statutory National Living Wage (“NLW”) and the National Minimum Wage (“NMW”) rates are:
|25 and over||21 to 24||18 to 20||Under 18||Apprentice|
Increases in these rates will be published as part of the Autumn Statement.
If you pay your employees in accordance with the voluntary Living Wage rates and have any questions, please do not hesitate in contacting Nick Bustin, Director of Employment Tax on 0207 969 5578 or via email email@example.com, or your usual haysmacintyre contact.