News article
Minimum Wage Increase April 2023
Matthews Hanton would like to remind employers that the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) are due to increase from 1st April 2023. The new NLW and NMW rates are set out below. The NLW continues to apply to all workers aged 23 and over.
The following table shows the previous and increased rates:
|
Previous rate |
Rate from April 2023 |
Increase |
|
|
National Living Wage |
£9.50 |
£10.42 |
9.7% |
|
21-22 Year Old Rate |
£9.18 |
£10.18 |
10.9% |
|
18-20 Year Old Rate |
£6.83 |
£7.49 |
9.7% |
|
16-17 Year Old Rate |
£4.81 |
£5.28 |
9.7% |
|
Apprentice Rate |
£4.81 |
£5.28 |
9.7% |
|
Accommodation Offset |
£8.70 |
£9.10 |
4.6% |
If you require any assistance with your payroll processes, please contact us to enquire about our payroll services.