National Living Wage changes from 1 April 2024

The National Living Wage (NLW) and the National Minimum Wage (NMW) are increasing from 1 April 2024.

This is the largest ever monetary increase in the minimum wage in the 25 years since the introduction of the NMW, increasing by more than £1. In addition, workers aged 21 and over will also now be entitled to the NLW.

The NLW and NMW rates will increase as follows:

*Applies to people aged under 19, or people over 19 but in the first year of their apprenticeship. If apprentices are older than 19 and have finished the first year of their apprenticeship, they are entitled to the relevant minimum wage for their age group.

It is important to be mindful of the NLW and NMW rates as you could easily be underpaying your employees if you don’t take into account for wage deductions, counting tips towards pay, deduct costs of workwear or tools from pay, or don’t pay for all time worked. You can use the GOV calculators for workers and for employers to calculate if the correct minimum wage has been applied.

If you would like to outsource your payroll function to our knowledgeable experts, allowing you to focus on the day-to-day running of your business, please contact our EQ Payroll team on info@eqaccountants.co.uk or call 01382 312100.