• The minimum pay rate for those aged 23 and above – the National Living Wage – is £9.50 an hour. This will rise to £10.42 in April.
  • The Retail, Hospitality and Leisure (RHL) relief scheme will be increased from 50% to 75% for 2023-24, up to £110,000 per business. Full details of business rates here. 
  • The employment allowance, which allows eligible employers to reduce their National Insurance liability, will be retained at £5,000.

Enterprise Nation has put together a useful summary of the implications for small business owners.

Bank holidays in England and Wales 2023

Don’t forget to configure the additional bank holiday on 8 May granted for the King’s Coronation.  The dates for your diary include:

  • Monday 2 January – New Year’s Day (substitute day)
  • Friday 7 April – Good Friday
  • Monday 10 April – Easter Monday
  • Monday 1 May – early May bank holiday
  • Monday 8 May – extra bank holiday to mark the coronation of King Charles III
  • Monday 29 May – Spring bank holiday
  • Monday 28 August – Summer bank holiday
  • Monday 25 December – Christmas Day
  • Tuesday 26 December – Boxing Day