National Minimum Wage

Tax Rates 2024/25

Oct Budget 2024

 

Introduction
Income Tax
Pensions
Annual investment limits
National Insurance Contributions
Vehicle Benefits
Tax-free mileage allowances
Capital Gains Tax
Corporation Tax
Main capital allowances
Property Taxes
Value Added Tax
Inheritance Tax
Key dates and deadlines
Useful rates
National Minimum Wage

National Minimum Wage

Rate per hour From
1.04.24		 From
1.04.23
Aged 21* and over (National Living Wage) £11.44 £10.42
Aged 21 – 22 N/A 10.18
Aged 18 – 20 8.60 7.49
Aged 16 – 17 6.40 5.28
Apprentices 6.40 5.28

*In 2023/24, the National Living Wage applied to those aged 23 and above.


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