Employers will need to update their systems to reflect the changes in the National Living and Minimum Wage rates from 1 April 2023.
They are:
- Increasing the National Living Wage for those aged 23 and over by 9.7% to £10.42 an hour;
- Increasing the rate for 21–22-year-olds by 10.9% to £10.18 an hour;
- Increasing the rate for 18–20-year-olds by 9.7% to £7.49 an hour;
- Increasing the rate for 16–17-year-olds by 9.7% to £5.28 an hour;
- Increasing the apprentice rate by 9.7% to £5.28 an hour; and
- Increasing the accommodation offset rate by 4.6% to £9.10 an hour.
As this will increase the payroll costs of affected business owners these changes will need to be factored into business plans for 2023-24.