Blog
Annual review of rates and limits 2023
- Posted:
- 17 March 2023
- Time to read:
- 1 min
Every year, in and around April, various statutory minimum payments are reviewed. Below are a list of the payment reviews and when they will take effect:
National minimum and living wage (1 April 2023)
Age group
1 April 2023
Current
23 or over
£10.42
£9.50
21-22
£10.18
£9.18
18-20
£7.49
£6.83
16-17
£5.28
£4.81
Apprentice rate
£5.28
£4.81
Accommodation
offset
£9.10
£8.70
Family related pay (2 April 2023)
Minimum payments will increase to £172.48 per week (from £156.66).
Statutory sick pay (6 April 2023)
Minimum payments will increase to £109.40 per week (from £99.35).
Weekly pay and statutory redundancy payments (6 April 2023)
The weekly pay cap for statutory redundancy pay purposes has increased to £643 per week (from £571).
If you would like to discuss your obligations or receive advice and support please do get in touch. You can contact me on [email protected] or phone me on 01206 217318.
