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BLOG COMPANY TAXES, EXPENSES & RATES PAYROLL & PENSIONS

Minimum wage rates increase from 1 April 2023

Employers should be aware that all minimum wage rates increase on 1 April of each year. This includes all National Minimum Wage rates and the National Living Wage rate. 

 

See the table below that shows the current minimum wage rates and new rates from April 2023:

 

Current rate (since April 2022)

New rate from April 2023

Increase

National Living Wage 

(23 years old and over)

£9.50

£10.42

9.7%

National Minimum Wage adult rate

(21-22 years old)

£9.18

£10.18

10.9%

National Minimum Wage

(18-20 years old)

£6.83

£7.49

9.7%

National Minimum Wage

(16-17 years old)

£4.81

£5.28

9.8%

National Minimum Wage

(apprentice rate)

£4.81

£5.28

9.8%

Accommodation Offset

£8.70

£9.10

4.6%

 

See: National Minimum Wage and National Living Wage rates.

 
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