National Minimum Wage and Living Wage Increases

Cashflow & Forecasts, HR, News, Payroll,

From 1st April 2022 the following rates will apply under National Living Wage and National Minimum Wage legislation. Now’s the time to make sure that you’re prepared, if you aren’t already!

New Wage Rates from 1 April 2022

  • National Living Wage – Age 23 and over: £9.50
  • National Minimum Wage – 21-22 year old rate: £9.18
  • National Minimum Wage – under 18 year old rate £4.81
  • National Minimum Wage – 18-20 year old rate £6.83
  • National Minimum Wage – 16-17 year old rate £4.81
  • National Minimum Wage – Apprentice Rate – aged under 19: £4.81
  • National Minimum Wage – Apprentice Rate – aged over 19 but in first year  of apprenticeship: £4.81

You’ll also need to adjust your payroll calculations for the increased National Insurance Contributions rates which take effect from 1st April 2022.

Please be sure to adjust your budgets and cash flow forecasts to take account of these increases. If you’d like some help to get budgets or cash flows set up, please get in touch!

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