Changes to National Minimum Wage: April 23

Due to the high level of inflation in September 2022, the annual increase in both the National Minimum Wage (NMW) & the National Living Wage (NLW) will be somewhat higher than usual. The Chancellor of the Exchequer accepted the recommendation of the Low Pay Commission to increase the current rates by 9.7%.

• The NLW for staff aged 23 and over increases from £9.50 to £10.42
• The NMW for staff aged 21-22 increases from £9.18 to £10.18
• The NMW for staff aged 18-20 increases from £6.83 to £7.49
• The NMW for staff aged 16-17 increases from £4.81 to £5.28
• The Apprenticeship Rate remains in line to the under 18-rate as shown above
• The accommodation offset increases from £8.70 to £9.10

If any employers are signed up to paying the “Real Living Wage”, currently standing at £11.95 per hour for London & £10.90 for all other areas of the UK, the Living Rate Foundation has yet to announce the proscribed rates for 2023-24 tax year.

Disclaimer - All information in this post was correct at time of writing.