22nd January 2024 Posted by - Alexander Accountancy
Minimum wage rates increase from April
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% |
If you would like help with your payroll, please don’t hesitate to call us; we are here to help! Click here to contact us or call 01283 743851
