Page 17 - Budget Newsletter November 2022
P. 17
• Bill increases for the smallest businesses losing eligibility for the Supporting Small
Business Scheme or Rural Rate Relief will be capped at £600 per year from April
2023.
National Living/Minimum Wage
The new National Living Wage and National Minimum Wage hourly rates for 2023/24 will
be:
Current rate Rate from April 2023
National Living Wage £9.50 £10.42
21-22 year olds £9.18 £10.18
18-20 year olds £6.83 £7.48
16-17 year olds £4.81 £5.28
Apprentice £4.81 £5.28
Accommodation Offset £8.70 £9.10
The content of this bulletin is for general consideration only. No action must be taken or
refrained from being taken without advice and so no responsibility can be assumed for any
loss occasioned as a result of any such action or inaction.
Raymond James Budget Newsletter November 2022 16
