National minimum wage increase

We wanted to give you a heads-up about the recent increase in the UK national minimum wage, which came into effect on April 1st, 2024. This update is important for all of us in the business world. Here are the updated national minimum wage rates

NMW rate from 1 April 2024

National Living Wage (21 and over)

Increase in pence £ 11.44

Percentage increase £ 1.02

9.8%

18-20 Year Old Rate

Increase in pence £8.60

Percentage increase £ 1.11

14.8%

16-17 Year Old Rate

Increase in pence £6.40

Percentage increase £1.12

21.2%

Apprentice Rate

Increase in pence £6.40

Percentage increase £1.12

21.2%

Accommodation Offset

Increase in pence £9.99

Percentage increase £0.89

9.8%

It's super important for us all to be up to date with these rates to make sure we're paying our employees fairly and staying compliant with the law. Not keeping up with the national minimum wage regulations could lead to some hefty penalties and legal issues.

If you want further detailed advice, perhaps take a look at https://www.gov.uk/government/publications/the-national-minimum-wage-in-2024