Accessibility links

07976 728646 hannah@chatfieldaccountancy.co.uk

  1. Resources
  2. Tax rates & allowances

Minimum wage

Statutory minimum wage levels.

National Minimum Wage rates apply to employees up to the age of 20 (22 before 1 April 2024).

National Living Wage (NLW) rates apply to employees 21 and over (23 and over before 1 April 2024).

The Apprentice rate applies to apprentices under 19, or 19 and over in the first year of apprenticeship.

Penalties apply to employers who fail to pay minimum wages.

Age NLW 21-22 18-20 16-17 Apprentice
From 1 April 2024 £11.44 n/a £8.60 £6.40 £6.40
From 1 April 2023 £10.42 £10.18 £7.49 £5.28 £5.28

Tax rates & allowances

Let's have a chat

Why not contact Chatfield Accountancy today for more information or a FREE no obligation quote.

We're ready when you are
Get in touch with Chatfield Accountancy

We’ve got news for you

A good accounting firm always looks for more ways to help its clients. That’s why we’ve put together a resource base to help you find the information you need, whenever you need it.

All news topics

IPSE calls for fairer off-payroll rules in Budget

The Chancellor should use her Autumn Budget to make off-payroll working rules 'fairer and more effective', according to the Association of Independent Professionals and the Self-Employed (IPSE).

07 Oct 2024

Billion-pound tax bombshell to hit hospitality, warns trade body

The end of business rates relief will sting hospitality with a £928 million bill in April unless the government acts in the Budget, warns UKHospitality.

07 Oct 2024

Reforms to IHT, CGT and NI 'could raise over £20 billion a year'

The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year.

07 Oct 2024
ACCA Quickbooks ProAdvisor Gold Quickbooks Certifed ProAdvisor Xero Certified Advisor Xero Bronze Partner