Information provided by Kidwells Accountancy on our website is for informational purposes only. For bespoke advice, call 01432 278 179 or email info@kidwellsaccountancy.co.uk to learn more about what is best for your business.
From 1 April 2023, the National Living Wage (NLW) and the National Minimum Wage (NMW) rates will increase. Except for those who are self-employed, everyone is entitled to receive the NLW or the NMW depending on their age or circumstances (see table below).
Bryan Sanderson, Low Pay Commission Chair, said:
The rates announced today include the largest increase to the NLW since its introduction in 2016 and will provide a much-needed pay increase to millions of low-paid workers across the UK, all of whom will be feeling the effects of a sharply rising cost of living. For a full-time worker, today’s increase means nearly £150 more per month.
It is important to ensure that the wages you pay your employees are in line with this year’s increases.
Category
National Living Wage
21-22 year old rate
18-20 year old rate
16-17 year old rate
Apprentice rate
Current Rate to March 2022
£9.50
£9.18
£6.83
£4.81
£4.81
Rate from April 2023
£10.42
£10.18
£7.49
£5.28
£5.28
Increase
9.7%
10.9%
9.7%
9.7%
9.7%
If you are unsure about the levels you are to pay your employees, get in touch with the team for help and advice.
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Disclaimer: Information provided by Kidwells Accountancy on our website is for informational purposes only. It is provided in good faith but we make no guarantee of any kind regarding the accuracy, reliability, or completeness of any information on our site. We always recommend businesses seek independent legal and financial advice before working with us or acting on any information on our website.