On Tuesday, 16 April, Amy Scott and Benjamin Molyneux, trainee solicitors from Essex law firm...
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Annual review of rates and limits 2023
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 julie.temple@birkettlong.co.uk or phone me on 01206 217318.
The contents of this blog are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this blog.
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