New Statutory Rates – Are you aware of the changes?
The new tax year brings an increase to Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP), Ordinary Statutory Paternity Pay (OSPP), Additional Statutory Paternity Pay (ASPP) and Statutory Adoption Pay (SAP).
So what are the changes?
|SSP||£ 85.85||£ 86.70 p.w.|
Minimum earnings threshold changes: The lower earnings limit (LEL); this is the amount an employee must earn to be able to qualify for these payments. This has risen from £107 to £109 p.w.