Gardiner Fosh chartered accountants and business advisers

Accountancy &
Taxation Services:
Budget Report
2010/11
Introduction
Budget Highlights
Business Tax &
Investment Incentives
Capital Taxes
Duties
National Minimum Wage
Income Tax &
Personal Savings
Value Added Tax
Tax & Travel
National Insurance
Other measures announced
2010/2011 Tax Calendar

National Minimum Wage (NMW)

From 1 October 2010 the main adult rate of the NMW will rise to £5.93 per hour.

Currently, those aged 22 and over are entitled to a minimum hourly rate of £5.80. With effect from 1 October 2010, 21 year olds will also be included in this rate.

In addition, apprentices will become entitled to a minimum wage rate for the first time in October, following the Government’s acceptance of recommendations from the Low Pay Commission. The new wage will apply to apprentices who are under the age of 19, or those aged 19 and over who are in the first year of their apprenticeship.

The current and future NMW rates are set out in the table below.

Financial Year to 22 and over* 18-21* 16 and 17 Apprentices
From 1 October 2009 £5.80 £4.83 £3.57 n/a
From 1 October 2010 £5.93 £4.92 £3.64 £2.50

 

*Main rate applies to those aged 21 and over from 1 October 2010.

 
 
Introduction|Budget Highlights|Business Tax & Investment Incentives 
Capital Taxes | Duties | Income Tax & Personal Savings | VAT
Tax & Travel  | National Insurance |Other Measures | 20010/11 Tax Calendar  

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