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The UK’s inflation rate in February 2024, as measured by the Consumer Price Index (CPI), was 3.4%.

For holiday years starting on or after 1 April 2024, there is a new holiday accrual system for irregular hours and part-year workers. They will no longer be entitled to 5.6 weeks’ holiday each year.

HMRC has announced new advisory fuel rates, from 1 March 2024, for employees using a company car.

The limit on a ‘week’s pay’ and the various maximum employment tribunal awards will increase from 6 April 2024.

Various research bodies have published pay data for the three months to the end of January 2024, as well as looking forward over the next year.