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Increase in Statutory Payments from April 2017

by Super User
on 06 January, 2017
Hits: 4060

HMRC have released the new rates for Statutory payments for the 2017-18 tax year.

After a year of static rates, the first Sunday in April (2nd of April 2017) will see increases to the rates of Statutory payments.  The current weekly rate for Statutory Maternity Pay (SMP) is £139.58 and this will rise to £140.98.  The same rate will apply to Statutory Paternity Pay (SPP), Adoption Pay (SAP) and Shared Parental Pay (ShPP). This means that from 2nd April, you will need to ensure that the correct rates are used when calculating these payments.

Statutory Sick Pay (SSP) will also increase from £88.45 to £89.35, but this will only be from the first day of the new tax year - 6th April 2017.  Make sure that you are aware of the difference in dates for these different payments.

To be eligible for any of these payments, an employee must be earning at or above the Lower Earnings Limit, which for the new tax year will increase from £112 per week to £113 on the 6th April.

 

As always, if you already outsource your payroll service to APS Global, all of these changes will take place automatically.