New UK laws coming into effect in 2024
New UK laws coming into effect in 2024
1. Wages will increase.
Beginning in April of next year, those receiving the National Minimum Wage or the National Living Wage will receive a pay increase. The government has confirmed that the National Living Wage will increase to £11.44 from £10.42.
There will also be changes to the age brackets. 21 and 22-year-olds will also receive the National Living Wage starting in April 2024. At the moment, only employees who are 23 years of age or older are eligible for the wage.
The National Minimum Wage will rise by £1.11 to £8.60 per hour for those who are 18 to 20 years old.
Apprentices will see increases to their minimum hourly rates in the meantime; for example, an 18-year-old in the construction industry will see an increase in minimum hourly pay of more than 20%, from £5.28 to £6.40 per hour.
According to the think tank Resolution Foundation, the increase will directly benefit at least 1.7 million workers.
2. Millions will see a reduction in the national insurance rate.
Next year, millions of workers will have their national insurance contributions lowered as a result of the government’s two percent rate cut. Starting on January 6, the current national insurance rate of 12% on earnings between £12,570 and £50,270 will be lowered to 10%.
Rather than taking effect in April, when most financial changes take effect, the measure has been rushed through Parliament to take effect at the beginning of next year.
According to the government, the tax cut will save someone making £35,000 more than £450 in a year.
Meanwhile, self-employed people will see a reduction in their contributions from 9 per cent to 8 per cent on profits over £12,570 from April 6.
3. New labour laws prohibit tip-withholding and guarantee flexible work from day one.
Next year, employees will have the ability to ask their employer for flexible work arrangements on the first day of work.
Employees who have been employed by their company for 26 weeks or longer are currently entitled to inquire about the possibility of working flexibly. However, a recent amendment to the law will make this a right that takes effect on the first day of work. April 2024 will see the implementation of the change.
Also, in April, a bill that improves the employment rights of recent and expectant mothers will be introduced. Their protection against redundancy will be extended by the new law. On the same date, unpaid carers will be able to take additional unpaid leave from work under the Carer’s Leave Act, which will help them balance their caregiving obligations.
Under the Employment (Allocation of Tips) Act 2023, employers will not be permitted to withhold tips starting in July. The Bill ensures that staff members receive the tips they have earned by outlawing businesses from withholding service charges from their employees.
4. Expansion of the free childcare programme
Changes to free childcare will begin in April 2024.All three- and four-year-olds are currently entitled to 15 hours of free childcare per week; for some eligible families, this amount can reach 30 hours, and for underprivileged two-year-olds, it can reach 15 hours.
Working parents with two-year-old children will have access to 15 hours of free childcare starting in the spring of next year. Then, starting in September 2024, working parents will receive 15 hours of free childcare until they are nine months old.
Working parents with children ages nine months and up will receive 30 hours of free childcare per week starting in September 2025, up until the time the child enters school.
Although some have criticised the government for spreading out the changes over several years, the changes were announced earlier this year. The offer “will take some time to implement and rollout,” according to the government, due to the size of the expansion.
In order to ensure that there are enough spaces available to meet demand, it was further stated that the staggered approach will give childminders and nurseries time to get ready for the changes.
Working parents who individually make more than £8,670 but less than £100,000 annually are qualified for the provision. If you’re in a relationship, the guidelines apply to both of you; therefore, neither of you can make more than £100,000 and you both need to make at least £8,670.
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