On the first Monday in November each year, the voluntary living wage is increased. From 6 November 2017, the voluntary UK living wage has increased from £8.45 to £8.75 per hour. The London living wage has increased from £9.75 to £10.20 per hour.

The annual November increases to the voluntary living wage do not affect the statutory minimum wage rates. The National Living Wage, the minimum rate for workers aged 25 and over, remains at £7.50 per hour and the National Minimum Wage rates also remain unchanged.

The living wage is a voluntary scheme ran by the Living Wage Foundation. Employers can choose to sign up to the scheme and commit to paying these rates in the future, although they will have to meet the specific accreditation rules in place.

As with all of our tax tips and web pages this information is necessarily summarised and of a general nature.  If you would like detailed specific advice please contact us.