The National Minimum Wage (NMW) and National Living Wage (NLW) rate increases for 2023/24 have been announced.
The largest nominal percentage increase is for the 21–22-year-old wage bracket, with a 10.9% increase taking the new hourly rate up to £10.18/hr.
| Rate | |
| 23 and over | £10.42 |
| 21-22 | £10.18 |
| 18-20 | £7.49 |
| Under 18 | £5.28 |
| Apprentice | £5.28 |
As part of the February 2023 Employer Bulletin HMRC mentions several common causes for underpayment of the NMW & NLW.