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Autumn Budget – Minimum Wage Increases – Big Fish Financial Services
 

Autumn Budget – Minimum Wage Increases

November 18, 2022by Sam Hosegood

National Minimum Wage and National Living Wage rates

As of 1st April 2023 the national minimum wage and national living wages are due to be increased:

Rates as of 1st April 2023

These rates are for the National Living Wage (for those aged 23 and over) and the National Minimum Wage (for those of at least school leaving age)

23 and over 21 to 22 18 to 20 Under 18 Apprentice
April 2023 £10.42 £10.18 £7.49 £5.28 £5.28
Apprentices

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

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
Current and Previous rates

The following rates were for the National Living Wage (previously for those aged 23 and over) and the National Minimum Wage (for those of at least school leaving age) from April 2016.

23 and over 21 to 22 18 to 20 Under 18 Apprentice
April 2021 to March 2022 £9.50 £9.18 £6.83 £4.81 £4.81
April 2020 to March 2021 £8.72 £8.20 £6.45 £4.55 £4.15
April 2019 to March 2020 £8.21 £7.70 £6.15 £4.35 £3.90
April 2018 to March 2019 £7.83 £7.38 £5.90 £4.20 £3.70
April 2017 to March 2018 £7.50 £7.05 £5.60 £4.05 £3.50
October 2016 to March 2017 £7.20 £6.95 £5.55 £4.00 £3.40

If you need any help implementing or managing payroll, don’t hesitate to get in touch with us.


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