The government has announced the annual increase in compensation limits for employment tribunal awards and other statutory payments.
The two key increases are:
- Maximum compensatory award for unfair dismissal rises from £105,707 to £115,115.
- Limit on a week’s pay rises from £643 to £700.
- Minimum basic award for some forms of unfair dismissal rises from £7,836 to £8,533.
- Statutory Guarantee pay also increases from £25 to £38 per day.
These changes are due to come into force from 6th April 2024.
Please find the below list of Rates and Limits which are coming into force in April (Please note: National Minimum/Living Wage changes come into force on 1 April 2024).
