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Michael Sohor & Co is now known as Tamen Accountants. This is a name change only - we are the same dedicated team, and look forward to serving our valued clients for many years to come.

Employers will need to update their systems to reflect the changes in the National Living and Minimum Wage rates from 1 April 2023.

They are:

  • Increasing the National Living Wage for those aged 23 and over by 9.7% to £10.42 an hour;
  • Increasing the rate for 21–22-year-olds by 10.9% to £10.18 an hour;
  • Increasing the rate for 18–20-year-olds by 9.7% to £7.49 an hour;
  • Increasing the rate for 16–17-year-olds by 9.7% to £5.28 an hour;
  • Increasing the apprentice rate by 9.7% to £5.28 an hour; and
  • Increasing the accommodation offset rate by 4.6% to £9.10 an hour.

As this will increase the payroll costs of affected business owners these changes will need to be factored into business plans for 2023-24.

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