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Employment Update for Small Businesses
January 2023

Dear Subscriber

Happy New Year!

This month we have an update on statutory rates and the new levels for the National Minimum Wage and National Living Wage.  Once again there is quite a dramatic leap compared to a few years’ ago, which we appreciate will cause some headaches for some of our clients, but which will no doubt be very welcome for lower paid employees.

Please contact me if you would like to find out a bit more about any of the subjects raised in this update or if you need any help or advice.

Please forward this email to any of your contacts who might find it of benefit.

Regards
Peter Etherington
Tel: 01664 668164

www.etherington.co.uk

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Peter Etherington
Increase in Statutory Rates
April 2023
From 6th April 2023 the following rates will apply:

  • Statutory Sick Pay – £109.40 (currently £99.35)
  • The Lower Earnings Limit – remains at £123.00 (this is the earnings level that employees need  to be on in order to access many statutory payments, such as Statutory Maternity Pay)

From 2nd April 2023 the following rates all increase from £156.66 to £172.48 per week:

  • Statutory Maternity Pay (SMP)*
  • Statutory Paternity Pay (SPP)
  • Statutory Adoption Pay (SAP)*
  • Statutory Shared Parental Pay (SShPP)
  • Statutory Parental Bereavement Pay (SPBP)

(* for the first 6 weeks SMP and SAP are 90% of normal pay)

National Minimum and Living Wage
From 1st April 2023, the minimum wage bands are increasing:

  • to £10.42 per hour (from £9.50) for workers aged 23 and over
  • to £10.18 per hour (from £9.18) for workers aged 21 to 22
  • to £7.49 per hour (from £6.83) for workers aged 18 to 20
  • to £5.28 per hour (from £4.81) for workers aged 16 and 17
  • to £5.28 per hour (from £4.81) for apprentices under 19 and those over 19 in their first year*

*N.B. Apprentices over 19 and who have completed at least one year are entitled to the appropriate rate for their age.

www.etherington.co.uk