Minimum Wage Increase [April 2022]

Wage Increases [April 2022]

It’s the time of the year where the National Minimum Wage and National Living Wage will be revised by the UK government. This takes place at the beginning of every tax year. We are now entering the 2022/23 tax year, meaning the new NMW and NLW rates are revealed.

The hourly min wage is dependent on age, and if someone is an apprentice.

National Minimum Wage

Firstly, we’re going to look at the National Minimum Wage

April 2021 rates (previous)

April 2022 (new)

National Living Wage

Secondly, we’re going to look at the National Living Wage.

National Living Wage was £8.91 per hour and is now £9.50 per hour. An increase of £0.59, 6.6%.

These new wage increases begin on the 1st of April 2022.

Apprentice Wages

Lastly, moving onto Apprentice wages.

Apprentices are entitled to the apprentice rate if they’re:

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

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

• Are aged 19 or over
• Have completed their first year of their apprenticeship

Most importantly, we know the apprentice rate has gone from £4.30 an hour, up to £4.81 therefore, increasing by 11.9%.

Who’s entitled to the Minimum Wage?

Workers who are over the school leaving age get the National Minimum Wage. They must be 23 or over to get the National Living Wage.

Who’s not entitled to the Minimum Wage?

Here are some of the people who aren’t entitled to it:

• Those who are self-employed running their own business
• Company directors
• Those who are volunteers or voluntary workers
• Members of the armed forces
• Workers younger than the school leaving age (under 16).

To Conclude

In conclusion, we have seen an increase to the NLW and the NMW this year. The changes will be taking place from April the 1st.

If you’re unsure whether you’re getting the minimum age or not, don’t worry! Click here to see if you are being payed correctly.

Please do not hesitate to contact Spectrum if you have any questions or would like some more information. Give us a call on 01179 902218

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Categorised in: Accountancy Services, Business, Small Business

This post was written by Daisy Vowles