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Statutory Payment Changes – April 2024

Embrace HR Aylesbury staff payment changes

With the arrival of the new Tax Year, make sure you are up to date with the changes in minimum wage rates and other statutory payments for the tax year 2024/2025…

For anyone involved in HR or employing people, knowing the annual change in rates for the National Living Wage and other statutory payments is vital. Below we outline what you need to know:

National Living Wage

The following rates are for the National Living Wage (for those aged 21 and over) and the National Minimum Wage (for those of at least school leaving age). These rates change on 1 April every year:

From 1 April 2024, the National Living Wage (NLW) will increase from £10.42 per hour to £11.44 per hour and is now applicable to age 21 and over:

The National Living Wage (NLW) and National Minimum Wage (NMW) from 1 April 2024 are:
  Current Rate £

(1.4.2023 to 31.3.2024)

 Rates £

From 1.4.2024
National Living Wage 10.42 11.44
21-22 year old rate 10.18 11.44
18-20 year old rate 7.49 8.60
16-17 year old rate 5.28 6.40
Apprentice aged under 19 5.28 6.40

 Apprentices

Apprentices are entitled to the apprentice rate if they are either:

  • aged under 19
  • aged 19 or over and in the first year of their apprenticeship

Apprentices are entitled to the minimum wage for their age if they are:

  • aged 19 or over and have completed the first year of their apprenticeship

Statutory Pay for Parents

From April 2024, Statutory Maternity Pay (SMP) after the standard six weeks of 90% of pay is £184.03 or 90% of the employee’s average weekly earnings, whichever is lower. Note the same rate also applies to Statutory Paternity Pay and Statutory Adoption Pay.

Statutory Sick Pay

From April 2024 Statutory Sick Pay (SSP) will increase to £116.75 per week. How much you need to pay an employee depends on the number of qualifying days they normally work each week and how many days they were off sick.

Please also refer to the Guidance for rates and thresholds for employers 2024 to 2025.

 

If you would like to discuss this subject further, please contact Cecily Lalloo at Embrace HR Limited.

T: 01296 761288 or contact us here.

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Based in Aylesbury, Buckinghamshire, Embrace HR provide a specialised HR service to the care sector, from recruitment through to exit.