National Minimum Wage 2024 and Wage Bands 2024-2025

What is the National Minimum Wage 2024? We’re sharing the current and upcoming National Minimum Wage figures, for Tax Year 2024/2025, following the Autumn Statement on 22nd November 2023.

When will the new National Minimum Wage 2024 come into effect?

The National Minimum Wage, including the National Living Wage, will rise from 1st April 2024 from the current pay rates.

What is the National Minimum Wage 2024?

The National Minimum Wage will be £11.44 from 1st April 2024 and will be for 21 years and over for the first time.

21 and over will have a NMW rate of £11.44, which is a 9.8% increase those over 23, and a 12.4% increase for 21-22 year olds.

18-20 year olds will have a new rate of £8.60, a 14.8% rise.

16-17 year olds will see a rise to a £6.40 rate, a 21.2% increase

Apprentices also see a matched £6.40 rate, 21.2% increase

What is the Accommodation Offset 2024?

The accommodation offset occurs when a worker lives in accommodation which their employer provides. They are then charged for that accommodation, and the offset sets a limit on what a minimum wage worker can be charged.

The accommodation offset will increase to £9.99 with an increase of 9.8% from April 2024.

Real Living Wage 2024 and more

The Living Wage Foundation has responded to the new rates announced shortly before the Autumn Statement on 22nd November 2023.

“A rise in the statutory National Living Wage from next April is welcome news for low paid workers but it still falls short of the voluntary Real Living Wage which is £12 per hour in the UK and £13.15 per hour for workers in London.”

This was announced on 24th October 2023 and employers have until 1st May to implement it.

The foundation operates a voluntary scheme, paid by over 14,000 employers, and is said to reflect the real cost of living.

HR and Payroll Legislation changes in 2024 onwards

Explore our HR and payroll legislation blog for more changes in 2024 and beyond.

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Last Updated on 3 weeks by Hannah Ingram

Last Updated on 3 weeks by Hannah Ingram