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Pod 6, The Engine Rooms, Station Road
Chepstow
Monmouthshire

01633 730907

For more than 10 years we have provided companies of all sizes and in a variety of sectors with uncomplicated, innovative and affordable human resources advice and on-site support ensuring that your people are an asset to your company and not a liability.

News

With the National Minimum Wage (NMW) now almost fifteen years old, and with another increase pending on 1st April 2017 HMRC have issued a list of the most elaborate excuses they've been given by employers for not paying the appropriate rates:

2023 National Living Wage and National Minimum Wage Rates

Alan Kitto

In the Chancellor's Autumn Statement earlier today, the Government announced the new National Minimum Wage (NMW) and National Living Wage (NLW) rates, effective from April 2023.

The new rates are:

  • For those aged 23 and above - £10.42 per hour (increased from £9.50 per hour)

  • For those aged 21 to 22 - £10.18 per hour (increased from £9.18 per hour)

  • For those aged 18 to 20 - £7.49 per hour (increased from £6.83 per hour)

  • For those aged 16 to 17 - £5.28 per hour (increased from £4.81 per hour)

Because the NLW and NMW both require employees and workers to be paid the prevailing rate for the hours worked in each pay period (per month if they’re paid monthly), an annual salary paid in equal monthly instalments will need to be the following to be compliant:

Based on a 40-hour week:

  • Aged 23 and above - £23,008

  • Aged 21 to 22 - £22,478

  • Aged 18 to 20 - £16,538

  • Aged 16 to 17 - £11,659

Based on a 37.5-hour week:

  • Aged 23 and above - £21,570

  • Aged 21 to 22 - £21,073

  • Aged 18 to 20 - £15,505

  • Aged 16 to 17 - £11,659

For more information on this or any other HR matter, please give us a call.