Summary
Description
National minimum / living wage rates
The following rates are effective from 1 April 2023.Age | Hourly Rate (£) |
23 and older | 10.42 |
21 - 22 | 10.18 |
18 - 20 | 7.49 |
16 - 17 | 5.28 |
Apprenticeship | Paying apprentices the correct national minimum wage > |
PAYE
Tax code changes
The emergency tax code for the 2023/24 tax year remains at 1257L, and there are no uplifts in tax codes.
The tables below show the bandwidths for the rest of the UK, Scotland and Wales.
Rest of UK Bandwidths & Rates
From (£) | To (£) | Rate (%) | Band |
0.01 | 37,700.00 | 20 | Basic rate |
37,700.01 | 125,140.00 | 40 | Higher rate |
125,140.01 | excess | 45 | Additional rate |
Scottish Bandwidths & Rates
From (£) | To (£) | Rate (%) | Band |
0.01 | 2,162.00 | 19 | Starter rate |
2,162.01 | 13,118.00 | 20 | Basic rate |
13,118.01 | 31,092.00 | 21 | Intermediate rate |
31,092.01 | 125,140.00 | 42 | Higher rate |
125,140.01 | excess | 47 | Top rate |
Welsh Bandwidths & Rates
From (£) | To (£) | Rate (%) | Band |
0.01 | 37,700.00 | 20 | Basic rate |
37,700.01 | 125,140.00 | 40 | Higher rate |
125,140.01 | excess | 45 | Additional rate |
Tax relief for childcare
Basic Rate (£) | High Rate (£) | Higher Rate (£) | |
Weekly | 55.00 | 28.00 | 25.00 |
Monthly | 243.00 | 124.00 | 110.00 |
Annually | 2915.00 | 1484.00 | 1325.00 |
National Insurance
Earnings bands
Weekly (£) | Monthly (£) | Yearly (£) | |
Lower Earnings Limit (LEL) | 123.00 | 533.00 | 6,396.00 |
Primary Threshold (PT) | 242.00 | 1048.00 | 12,570.00 |
Secondary Threshold (ST) | 175.00 | 758.00 | 9,100.00 |
Freeports Upper Secondary Threshold (FUST) | 481.00 | 2083.00 | 25,000.00 |
Veterans Upper Secondary Threshold (VUST) | 967.00 | 4189.00 | 50,270.00 |
Upper Earnings Limit (UEL) | 967.00 | 4189.00 | 50,270.00 |
Upper Secondary Threshold (UST) | 967.00 | 4189.00 | 50,270.00 |
Apprentice Upper Secondary Threshold (AUST) | 967.00 | 4189.00 | 50,270.00 |
Statutory payments
The Statutory payments rates are changing from 6 April 2023.
Statutory sick pay
Employees on weekly earnings greater than or equal to the Lower Earnings Limit are entitled to a statutory weekly rate of £109.40 from 6 April 2023.
New statutory sick pay rates:
Unrounded daily rates | Number of working days in week | 1 day to pay | 2 days to pay | 3 days to pay | 4 days to pay | 5 days to pay | 6 days to pay | 7 days to pay |
---|---|---|---|---|---|---|---|---|
£15.6285 | 7 | £15.63 | £31.26 | £46.89 | £62.52 | £78.15 | £93.78 | £109.40 |
£18.2333 | 6 | £18.24 | £36.47 | £54.70 | £72.94 | £91.17 | £109.40 | |
£21.8800 | 5 | £21.88 | £43.76 | £65.64 | £87.52 | £109.40 | ||
£27.3500 | 4 | £27.35 | £54.70 | £82.05 | £109.40 | |||
£36.4666 | 3 | £36.47 | £72.94 | £109.40 | ||||
£54.7000 | 2 | £54.70 | £109.40 | |||||
£109.4000 | 1 | £109.40 |
Parental pay and leave
The rates below come into effect from the first Sunday in April.
New Parental pay and leave rates:
Payment | Higher rate % | The standard rate is the lesser of: £ | or, % | Weeks at higher rate | Weeks at Standard rate |
---|---|---|---|---|---|
Statutory Maternity Pay | 90.00 | 172.48 | 90.00 | 6 | 33 |
Statutory Adoption Pay | 90.00 | 172.48 | 90.00 | 6 | 33 |
Statutory Paternity Pay | N/A | 172.48 | 90.00 | N/A | 2 |
Shared Parental Pay | N/A | 172.48 | 90.00 | N/A | 37 |
Parental bereavement | N/A | 172.48 | 90.00 | N/A | 2 |
Student loans
When you set up a student loan deduction for an employee, you must specify whether they're on Plan 1, Plan 2 or Plan 4.
Type | Weekly £ | Monthly £ | Annual £ | Rate % |
---|---|---|---|---|
Plan Type 1 | 423.36 | 1,834.58 | 22,015.00 | 9.00 |
Plan Type 2 | 524.90 | 2,274.58 | 27,295.00 | 9.00 |
Plan Type 4 | 531.92 | 2,305.00 | 27,660.00 | 9.00 |
Postgraduate loans
Postgraduate loans rates are staying the same in the 2023/2024 tax year.
Type | Weekly £ | Monthly £ | Annual £ | Rate % |
---|---|---|---|---|
Standard | 403.84 | 1,750.00 | 21,000.00 | 6.00 |
Employment allowance
For the 2023/24 tax year, Employment allowance is £5,000.
Apprenticeship Levy
The Apprenticeship Levy Allowance is set to £15,000.
The Apprenticeship Levy Rate is set to 0.5%.
Attachment of earnings orders
Where attachment of earnings orders use rates to calculate deductions, your software includes these rates and applies them automatically.
All attachments rates are staying the same, with the exception of the Earnings Arrestment, which is specific to Scotland.
The following rates are effective from 6 April 2023.
Earnings arrestment
Weekly deduction rates | Monthly deduction rates | ||||
Attachable earnings from (£) | Attachable earnings to (£) | Deduction rate (%) | Attachable earnings from (£) | Attachable earnings to (£) | Deduction rate (%) |
0.00 | 150.94 | 0.00 | 0.00 | 655.83 | 0.00 |
150.95 | 545.57 | 19.00 | 655.84 | 2370.49 | 19.00 |
545.58 | 820.21 | 23.00 | 2370.50 | 3563.83 | 23.00 |