From 1 October 2009, the national minimum wage (or NWM) will increase as expected. The current minimum wage of £5.73 per hour, for adults 22 years and over, will increase to £5.80 per hour. 

The rate for 18 to 21 year olds will increase from £4.77 to £4.83 per hour, while for 16 and 17 year olds, the rate will go up from £3.53 to £3.57 per hour Companies that do not comply with these face large penalties.

To read more about the National Minimum Wage: http://www.direct.gov.uk/en/Employment/Employees/TheNationalMinimumWage/index.htm

1st Contact Tax offers Specialist tax services to contracting professionals these services include: Contractor Accounting, Personal Tax for Contractors, Limited Companies for Contractors and Contractor Financial Advice.