reviews


Statutory pay to rise from April 2018
30/11/2017

In a written ministerial statement, the government has announced the proposed new rates for statutory maternity pay (SMP), statutory adoption pay (SAP), statutory paternity pay (SPP), statutory shared parental pay (ShPP) and statutory sick pay (SSP) for tax year 2018/19. 

 

The proposed revised rates are as follows:

  • the standard weekly rates of SMP, SAP, SPP and ShPP will increase from £140.98 to £145.18 – it is assumed this will be for paymentweeks commencing on or after Sunday, 1 April 2018. The prescribed weekly rate of maternity allowance (MA) will also increase from £140.98 to £145.18
  • the weekly rate of SSP will increase from £89.35 to £92.05 from 6 April 2018
  • the earnings threshold, below which employees are not entitled to SMP, SAP, SPP, ShPP and SSP, will increase from £113.00 to £116.00per week from 6 April 2018.

The rate increases reflect a 3% increase in the consumer price index (CPI) in the year to September 2017.

 

These rates are subject to Parliamentary approval, so changes are possible, but unlikely.


HEAD OFFICE

44 Broadway
Stratford
London
E15 1XH 

Tel: 0208 5191800

Mobile: 07900 394445

LONDON CITY OFFICE - BANK

23 Austin Friars,
London,
EC2N 2QP

Tel: 020 3667 2561
Mobile: 07951 722 081

info-bank@ybsmpartners.com

Follow Us

  

Memberships