National Minimum/Living Wage Increase 2017 & Introduction of the Apprenticeship Levy

National Minimum/Living Wage Increase 2017 & Introduction of the Apprenticeship Levy

The National Minimum Wage (NMW) for workers aged under 25 and National Living Wage (NLW) for workers ages over 25 will be increasing to £7.05 and £7.50 per hour respectively from 1st April 2017.

In addition, the Government is changing the way Apprenticeships are funded by introducing a new scheme known as the Apprenticeship Levy. The Apprenticeship Levy will require all employers operating in the UK, with a pay bill over £3 million each year, to make an investment in apprenticeships equating to 0.5% of their annual pay bill.

The introduction of the Apprenticeship Levy will add to the costs your business will incur from April 2017.

Sorry, we can’t eliminate the NMW or NLW but we can help you offset the financial impact on your profit margin by reducing the cost of your non-pay overheads. Take advantage of our pre-sourced, pre-agreed frameworks and pay less for your core business overheads.

If you are not yet a Member of Procura Solutions, please join here.

< return to news

Verification