Statutory payment rates for tax year 2019/20 confirmed - Makesworth

Statutory payment rates for tax year 2019/20 confirmed

Statutory payment rates 2020/21 confirmed

Statutory payment rates for tax year 2019/20 confirmed

The following statutory payment rates are confirmed:

The standard weekly rates of Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP) and Statutory Shared Parental Pay (ShPP) will increase from £145.18 to £148.68 from 1 April 2019. The weekly rate of Statutory Sick Pay (SSP) will increase from £92.05 to £94.25 from 6 April 2019 and the standard weekly rate of Statutory Maternity Pay (SMP) will increase from £145.18 to £148.68 from 7 April 2019. Note the different effective date for the increases in SAP, SPP and ShPP to that for SMP. The increase to SSP always takes effect from the start of a new tax year.

The lower earnings limit, below which employees are not entitled to SMP, SAP, SPP, ShPP and SSP, will increase from £116.00 to £118.00 per week from 6 April 2019.

For more information on Statutory payment rates, Book a Free Consultation

See also  Spring Budget 2020 – Corporation Tax

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