Mark your calendars because there’s an important change coming in April 2024 that will impact workers across the country. The national minimum wage, the legal minimum hourly pay rate that employers must pay to their employees, is set to increase.

Chancellor Jeremy Hunt confirmed in his Autumn Statement the national minimum wage is set to increase from 1st April next year. The national living wage has also been extended to 21 year olds, who are currently earning £10.18 per hour.

See below all of the changes from 1 April 2024:

The increase in the national minimum wage, set to occur in April 2024, presents a positive change for workers in the UK. While challenges may arise for some employers, effective planning and adaptation can help mitigate any potential challenges. As the new minimum wage takes effect, both workers and employers should stay informed and proactive in managing the transition.

We will automatically apply these changes for our payroll clients from 1 April 2024. If you need any help with your payroll or planning for these changes, contact our dedicated payroll team at payroll@ssmithaccountants.co.uk.