In this blog article, Beth Abbott from our Conveyancing team demystifies the term ‘Caveat Emptor’, the principles of which are key when buying or selling a new home. What does Caveat Emptor mean? Put simply, Caveat Emptor is a Latin term...
Annual National Minimum Wage Rates
The Government has published the draft National Minimum Wage (Amendment) Regulations 2017, which are due to come into force on 1 April 2017.
The revised rates are as follows:
- The National Living Wage for those aged 25 and over will increase from £7.20 per hour to £7.50 per hour;
- The National Minimum Wage (NMW) for 21- to 24-year-olds will increase from £6.95 per hour to £7.05;
- The NMW for 18- to 20-year-olds will increase from £5.55 per hour to £5.60;
- The NMW for 16- and 17-year-olds will increase from £4.00 per hour to £4.05; and
- The apprentice rate of the NMW, which applies to apprentices aged under 19 or those aged 19 or over and in the first year of their apprenticeship, will increase from £3.40 per hour to £3.50.
The accommodation offset will increase from £6.00 per day to £6.40 per day.