The government has announced increases to statutory rates, tribunal award caps, NI thresholds, the National Living wage and the National Minimum wage from April 2024.
Compensation Limits
| Payments | From 6 April 2023 | From 6 April 2024 |
| Limit on guarantee payments | £35 | £38 |
| Limit on a week’s pay for calculating redundancy and unfair dismissal basic award | £643 | £700 |
| Maximum basic award for unfair dismissal and statutory redundancy payment (30 weeks’ pay subject to the limit on week’s pay | £19,200 | £21,000 |
| Minimum basic award for dismissal on trade union, health and safety, occupational pension scheme trustee, employee representative and on working time grounds only | £7,836 | £8,53 |
| Maximum compensatory award for unfair dismissal | £105,707 | £115,115 |
| Minimum compensation for employees excluded/expelled from trade union | £11,967 | £13,032 |
| Contract claims (if a claim for breach of contract (e.g. wrongful dismissal) is brought in an employment tribunal, compensation is capped at £25,000. If the claim is for more than £25,000, it can be made in the county court or high court | £25,000 | £25,000 |
Need A Hand?
If you want to more about how People Based Solutions can ensure you meet all of your legal obligations as an employer:
Contact us by e-mailing: enquiries@peoplebasedsolutions.co.uk
Call 01925 202217 or
CLICK HERE and we’ll be in touch
Family-friendly payments
| Payments | From 6 April 2023 | From 6 April 2024 |
|
Statutory shared parental pay (ShPP) Statutory rate or 90% of employee’s weekly earnings if this is lower. |
£172.48 | £184.03 |
|
Statutory maternity pay (SMP) First six weeks – 90% of employee’s average weekly earnings. Remaining weeks at the statutory rate or 90% of employee’s weekly earnings if this is lower. |
£172.48 | £184.03 |
|
Statutory adoption pay (SAP) First six weeks – 90% of employee’s average weekly earnings. Remaining weeks at the statutory rate or 90% of employee’s weekly earnings if this is lower. |
£172.48 | £184.03 |
|
Statutory paternity pay (SPP) Statutory rate or 90% of employee’s weekly earnings if this is lower. |
£172.48 | £184.03 |
|
Statutory parental bereavement pay (SPBP) Statutory rate or 90% of employee’s weekly earnings if this is lower. |
£172.48 | £184.03 |
National minimum wage
| Age | From 1st April 2023 | From 1st April 2024 | |
| Workers aged 23 and over (National Living Wage) | £10.42 an hour | N/A | |
| Workers aged 21–22 | £10.18 an hour | N/A | |
| National Living Wage for workers aged 21 and over | N/A | £11.44 an hour | |
| National minimum wage for workers aged 18-20 | £7.49 an hour | £8.60 an hour | |
| Young workers rate for workers aged 16-17 | £5.28 an hour | £6.40 an hour | |
| Apprentices under 19, or over 19 and in the first year of the apprenticeship | £5.28 an hour | £6.40 an hour |
