The National Living Wage is the highest band of the National Minimum Wage, applying to the oldest eligible age group. It is set at a higher rate than the standard minimum wage bands.
How the rate is reviewed
The government reviews and typically increases the rate each April based on recommendations from an independent body. Employers must update payroll promptly when new rates take effect.
Tax rules depend on individual circumstances and can change. This glossary is general information rather than personalised tax advice.