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ICAEW reminds employers of minimum wage increases

Author: ICAEW Insights

Published: 26 Mar 2024

The rates of the minimum wage will increase from 1 April 2024, and the national living wage is extended to younger employees.

The national minimum wage (NMW) is the minimum amount per hour workers are entitled to be paid by law. Different rates apply depending on the category of the worker. The headline rate of the minimum wage is referred to as the national living wage (NLW). 

For pay periods commencing on or after 1 April 2024, the NLW is increased by £1.02 to £11.44. In addition, the NLW has been extended to 21 and 22 year-olds. The annual amount of the NLW for a person working 35 hours a week will be approximately £20,821. 

At the same time, the NMW rate for 18 to 20 year-olds is increased to £8.60 and the apprentice rate is increased to £6.40.  

The changes are said to represent the largest ever increase in the NMW in cash terms.  

For full details of the rates of the NMW, see Rates and thresholds for employers 2024/25. This guidance explains who is and is not entitled to the NMW. 

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