Ensuring that a workforce is paid correctly and on time is one of the most important tasks for any business and from this week it is important that payrolls are set correctly to reflect the new national minimum wage rates.
From 1 October 2013 all business owners will have to meet the new national minimum wage rates which are:
• the main adult rate (workers 21 and over) will increase by 12p to £6.31 an hour (currently £6.19)
• for 18-20 year olds the rate will increase by 5p to £5.03 an hour (currently £4.98)
• for 16-17 year olds the rate will increase by 4p to £3.72 an hour (currently £3.68)
• for apprentices the rate will increase by 3p to £2.68 an hour (currently £2.65).
The changes come after the government accepted the recommendations from the independent Low Pay Commission, although they have ignored their advice to freeze the rates for apprentices and decided that they should be increased instead.
What are the new The TUC say that the new rates will help the UK recover from recession since hire wages go straight into the economy and become part of a wage led growth.
The organisation also says that employers who can afford to pay a decent living wage should do so and not rely on the national minimum wage guidelines.
What are the new national minimum wage rates?
However, we appreciate that many business owners have a number of other issues to prevent big wage increases happening for their staff and we offer a service which will help control costs for running their business.
Indeed, here at Rapid Payroll we are always ready to implement changes such as the national minimum wage rates for our growing number of clients and if you are in need of a cost effective payroll service then contact us now.
We have lots of experience and lots of happy clients with our payroll service and we can help you too, no matter how large your business may be.
The new national minimum wage levels also highlight the growing need from business owners to have a payroll service that they can rely on. Preparation and accuracy are the key to having workers being paid correctly and on time.
Change payroll for national minimum wage rates
Perhaps the most important aspect of our service to business owners is that Rapid Payroll ensures that your record-keeping is not only HMRC-compliant but that the deductions that need to be taken from wages are accurate and recorded as needed.
If you are looking for a cost-effective and professional payroll service, then look no further because at Rapid Payroll we can deliver what you are looking for.
We have a growing number of satisfied clients in a wide range of industries and we can help everyone from sole traders to those firms with large workforces – especially when national minimum wage rates change.
At Rapid Payroll we can run your payroll whether it is weekly or monthly and accurately include bonuses and commissions as well as overtime payments.