The new minimum wage rates will come into effect from April 2023. As an employer, it's important to stay up to date with changes and ensure that you are complying with minimum wage regulations.
From April 2023, the minimum wage rates in the UK will increase as follows:
- For workers aged 23 and over an increase up to £10.42 per hour
- For workers aged 21-22 this will increase to £10.18
- The rate for workers aged 18 -20 will increase to £7.49
- The apprentice rate will increase to £5.28 (subject to age and stage of apprenticeship)
As an employer, it is your responsibility to ensure that you are paying your employees the correct minimum wage rates. Failing to do so can result in significant fines and damage to your reputation, for example, your business being ‘named and shamed’ in the Government’s list of employers not paying minimum wage.
Here are some key points to keep in mind:
- Check Your Payroll: Make sure that you are paying your employees the correct minimum wage rates, based on their age and status as an apprentice.
- Plan for the Increase: With the new rates coming into effect in April 2023, it's important to plan ahead and ensure that you can afford the increase in wages. Consider your budget and any potential impact on your business.
- Communicate with Your Employees: It is important to communicate with your employees about the changes to the minimum wage rates and how they will affect their pay. Make sure that they are aware of the increase and that you are committed to paying them the correct amount. Encourage staff to raise any issues in respect of the minimum wage rates.
