By paying the real Living Wage, employers are voluntarily taking a stand to ensure their employees can earn a wage which is enough to live on.
As well as it being the right thing to do, there is a growing body of evidence demonstrating the business benefits of becoming a Living Wage employer.
The Living Wage rates are independently calculated based on the real cost of living in the UK and London.
The new rates for 2023/24 are:
- £12 per hour UK rate; and
- £13.15 London rate. See: [Real Living Wage increases to £12 in UK and £13.15 in London | Living Wage Foundation](https://www.livingwage.org.uk/news/real-living-wage-increases-%C2%A312-uk-and-%C2%A31315-london)
From October 2026, companies will have to comply with new rules on trade unions introduced as part of the Employment Rights Act.
The tax rules on Benefits in Kind (BIKs) are changing. From 6 April 2027, Phase 1 of HMRC’s ‘Mandatory payrolling of Benefits in Kind and expenses’ comes into force. Phase 1 will apply only company cars, car fuel, vans, van fuel and medical benefits.