National Minimum Wages 2016/17 – Are You Ready?

National Minimum Wages 2016/17 – Are You Ready?

It’s that time of year again. The changes to the National Minimum Wages for 2016/17 will be in effect from the 1st of October 2016.

Are you Ready?

If you aren’t ready, you need to know the following:

  1. Find out the new National Minimum Wage rates of pay here.
  2. Check you know who is eligible in your organisation.
  3. Take the appropriate payroll action.

You can find further information on HMRC’s employers’ National Minimum Wage page.

The following chart explains the structure, level and increase in the minimum wage.

Structure, level and increases in the minimum wage
Current Level From April 2016 From October 2016 – April 2017 Increase
Adult Rate (21+) NLW (25+) £7.20 £7.20 N/A
Adult Rate (21-24) £6.70 £6.95 3.7%
YDR (18-20) £5.30 £5.55 4.7%
16-17 Yr Old Rate £3.87 £4.00 3.4%
Apprentice Rate £3.30 £3.40 3%

NLW: National Living Wage
YDR: Youth Development Rate

How We Can Help?

At Thames Williams Accountancy we provide Payroll services and stay up to date will all HMRC Legislation. Helping you the public and our clients stay informed of any changed, in this instance the National Minimum Wage. We do all the changes, inform all the employees on your behalf. Removing your hassle, so you can focus on what is important to you, your business.

For more information or advice please do not hesitate to contact us at [email protected].

We Have Found a Home

We Have Found a Home

Exciting things are happening for Thames Williams Accountancy, and we want to share some important news with you.

We are pleased to announce that we have a found our home. Our address is:

The Big Peg
120 Vyse Street
Hockley
Birmingham
B18 6NF

We would like to thank our client’s loyalty which has fueled our growth, making the move to this historic facility feasible.

We hope that you will continue to enjoy our services as much as we love offering them to you.

We are thankful for The Big Peg team welcoming us to their home and we look forward to a long relationship with them.

Please, note our telephone number is 0121 288 9700.