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National Minimum Wage Increase in April 2024 - EA Assist
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National Minimum Wage Increase in April 2024

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12 Mar National Minimum Wage Increase in April 2024

Posted at 11:20h in Other, Payroll by

National Minimum Wage Increase in April 2024minimum wage increase

 

In November 2023 the Government announced its acceptance of the Low Pay Commission’s recommendations on minimum wage rates to apply from April 2024.

The National Minimum wage is the minimum legal amount per hour a business can pay an employee in the UK. The UK government constantly reviews this amount and adjusts the figure yearly in line with the cost of living.

From 1 April 2024 there will be an increase in the national living wage. Please note that workers aged 21 and over will also be entitled to the National Living Wage (in previous years it was workers aged 23 and over).

To qualify for the National living wage employees must be at least:

  • school leaving age to get the National Minimum Wage
  • aged 23 (21 from April 2024) to get the National Living Wage – the minimum wage will still apply for workers under the threshold

 

Current Rates

23 and over 21-22 18-20 Under 18 Apprentice
2023 £10.42 £10.18 £7.49 £5.28 £5.28

You can find the current rates here.

 

2024 Rates

NMW Rate Increase £ Percentage Increase
National Living Wage
21 and over		 £11.44 £1.02 9.8%
18 – 20 year olds £8.60 £1.11 14.8%
16-17 Year Olds £6.40 £1.12 21.2%
Apprentice Rate £6.40 £1.12 21.2%

 

Apprentices are entitled to the apprentice rate if they’re either:

  • aged under 19
  • aged 19 or over and in the first year of their apprenticeship

Example: An apprentice aged 21 in the first year of their apprenticeship will be entitled to a minimum hourly rate of £6.40.

Apprentices are entitled to the minimum wage for their age if they both:

  • are aged 19 or over
  • have completed the first year of their apprenticeship

Example: An apprentice aged 21 who has completed the first year of their apprenticeship will be entitled to a minimum hourly rate of £11.44.

 

Living Wage

The real Living Wage is the only UK wage rate based on the cost of living. It is voluntarily paid by over 14,000 UK businesses who believe their staff deserve a wage which meets everyday needs – like the weekly shop, or a surprise trip to the dentist.

You can find out more about the Living Wage here: www.livingwage.org.uk/what-real-living-wage

 

EA ASSIST

We know all about National Minimum Wage, PAYE, SMP and Holiday pay, its what we do. If you find all the technical terms and constant updates confusing then please get in touch.

Find out how we can help you free up you time to focus on your business. We can manage your payroll function by ensuring we file and report on time and accurately. We can offer digital pay slips or printed – depending on what you would like. Find out more about our payroll services here.

To find our more about how EA Assist can help you please visit our website here or give us a call now on 01379 646943 or email info@ea-assist.co.uk.

 

 

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