Failure to correctly meet and operate the new rates isn't an option. If identified by HMRC, your organisation could be issued severe penalties and be named and shamed on HMRC’s website. This applies to businesses with arrears of more than £500 in National Living/Minimum Wage payments to their workforce.
For businesses operating tronc schemes, allocations from tronc can't count towards the National Living/Minimum Wage.
Finally, if you require your staff member (the worker) to purchase specific items, such as overalls, then any deductions made from employee pay or payments made to you (the employer) in respect of those items, will also need to be considered for National Living/Minimum Wage purposes, as relayed by Mark Taylor here.