Minimum wage rates increase from 1 April 2024

Employers should be aware that all minimum wage rates increase on 1 April of each year. For 2024, these increases are substantial. The increases apply to all National Minimum Wage rates and the National Living Wage rate.

Another change that comes with the new rates is that the National Living Wage is being extended to include those aged 21 years old and over.

Minimum wage – increased rates from April 2024

See the table below that shows the current minimum wage rates and new rates from 1 April 2024:

  Current rate (since April 2023) New rate from April 2024 Increase
National Living Wage (23 years old and over) £10.42 £11.44 (21 years old and over)  9.8%
National Minimum Wage (21-22 years old) £10.18 N/A N/A
National Minimum Wage (18-20 years old) £7.49 £8.60 14.8%
National Minimum Wage (16-17 years old) £5.28 £6.40 21.2%
National Minimum Wage (apprentice rate) £5.28 £6.40 21.2%
Accommodation Offset £9.10 £9.99 9.8%

More information about the new minimum wage can be found on gov.uk website.

To manage your payroll confidently requires not only detailed knowledge of HMRC regulations around payroll but an understanding of Auto-Enrolment Pensions, how to record and report different types of employee benefits, addressing status issues and minimum wage regulations.

Cunningtons are able to offer fully managed online payroll services tailored to specific requirements.

Disclaimer: The information in this article is provided for general information only and does not constitute legal or professional advice. We cannot accept responsibility or liability for any actions you may take, or not take, based on this information.

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