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...
New Minimum Wage Rates
The Government has accepted the recommendations put forward in the Low Pay Commission’s annual report 2014 for the National Minimum Wage (NMW) rates for 2014/2015.
The following changes will come into effect on 1 October 2014:
- the adult NMW rate will increase from £6.31 to £6.50 per hour;
- the NMW rate for workers age 18 to 20 will increase from £5.03 to £5.13 per hour;
- the NMW rate for 16- and 17-year-olds will increase from £3.72 to £3.79 per hour; and
- the apprentice rate of the NMW, which applies to apprentices under 19 or over 19 and in the first year of their apprenticeship, will increase from £2.68 to £2.73 per hour.
The accommodation offset will increase from £4.91 to £5.08 per day.