The Low Pay Commission have confirmed that the Government has accepted its recommendations for increased rates of the National Minimum Wage (NMW) and National Living Wage (NLW). These will come into force on 1 April 2024. One major thing to be aware of is the National Living Wage threshold being lowered to 21 (from 23), as this will cover a lot more workers going forward.
The new rates are as follows:
- an increase to the NLW for those aged 21 and over from £10.42 to £11.44 per hour;
- an increase to the NMW for those aged 18-20 from £7.49 to £8.60 per hour;
- increase for those aged 16-17 and apprentices from £5.28 to £6.40 per hour.
For more information please see the Governments press release
This will have an impact on many businesses who base their pay on the NMW and NLW scales, and it is better to be aware and prepare for the changes now. For more advice on how this may impact your business and what you may need to do going forward, please get in touch with one of our specialist team today.
Swan Craig Solicitors are a locally trusted and thoroughly regulated law firm, housing qualified solicitors and experienced legal professionals well-versed in UK employment law. With the knowledge, training and expertise to advise you on issues with your employer or working environment, we are authorised and insured to give you legal guidance. With over 18 years of experience, our dedicated team are available at your convenience, so simply contact us today, on everything from disciplinaries to changes in contract.
Our blogs and articles are prepared for general interest and it is important to obtain professional advice on specific issues. Swan Craig believe the information contained in these blogs and articles to be correct at the time of publication. While all possible care is taken in the preparation of these blogs and articles, no responsibility or liability for loss occasioned by any person acting or refraining from acting as a result of the material contained herein can be accepted by Swan Craig, the author, or the publisher.