Minimum wage

National Minimum Wage rates apply to employees up to the age of 24.

National Living Wage (NLW) rates apply to employees 25 and over.

The Apprentice rate applies to apprentices under 19, or 19 and over in the first year of apprenticeship.

Penalties apply to employers who fail to pay minimum wages.

Age NLW 21-24 18-20 16-17 Apprentice
From 1 April 2020 £8.72 £8.20 £6.45 £4.55 £4.15
From 1 April 2019 £8.21 £7.70 £6.15 £4.35 £3.90

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Banks & Co is the trading name of Banks & Co Limited

Banks & Co Ltd is registered in England | Company No : 07272728 | Reg. Office as below.

© 2021 Banks & Co Ltd. All rights reserved. We use cookies on this website, you can find more information about cookies here.

Banks & Co Ltd, 1 Carnegie Rd, Newbury, Berkshire RG14 5DJ

Registered as auditors and regulated for a range of investment business activities in the United Kingdom by the Association of Chartered Certified Accountants.

In association with Wessex Investment Management Limited which is authorised and regulated by the Financial Conduct Authority and TFS Payroll Solutions Limited