Reasons to choose Wilson Browne
The Department of Work and Pensions has issued its rate increases which come into effect in April 2023 for the 2023/24 tax year.
The Minimum Wage and National Living Wage will increase as below:
Age 23+ – £10.42 (previous rate £9.50)
Age 21-22 – £10.18 (previous rate £9.18)
Age 18-20 – £7.49 (previous rate £6.83)
Age 16-17 – £5.28 (previous rate £4.81)
Apprentices – £5.28 (previous rate £4.81)
Alongside this the Accommodation Offset will increase from £8.70 to £9.10 per day.
Other increases are:
Statutory sick pay. This will increase from £99.35 per week to £109.40 per week.
Statutory maternity, paternity, adoption, shared parental and parental bereavement pay. This will increase from £156.66 per week to £172.48 per week.
Please be aware of the above changes and any impact that they will have on your budgeting and/or payroll.