As many employers will already be aware, all UK Minimum Wage Rates increase on the 1st of April of every year. With rates increasing by up to 10.9% in some cases, it’s important that employers are aware of the upcoming changes.
With the National Living Wage increasing by 9.7%, this will mean an extra £150 a month for full-time workers aged over 23. This couldn’t have come at a better time with much of the UK feeling the pinch thanks to the cost of living crisis.
The table below shows what the current UK Minimum Wage Rates are, and what they will increase to from 1 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% |
Please head to the gov.uk website to find out more about National Minimum Wage and National Living Wage rates. Alternatively, get in touch with PKB and one of our experts will be more than happy to assist.
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