Tyas & Company
Chartered Accountants, Registered Auditors, Tax, Business Advisors
Wednesday, 05 December 2018 00:01

Statutory employee benefit pay to rise from April 2019

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 2019/20.

The proposed revised rates are as follows:

  • The standard weekly rates of SMP, SAP, SPP and ShPP will increase from £145.18 to £148.68 – it is assumed this will be for payment weeks commencing on or after Sunday, 7 April 2019. The prescribed weekly rate of maternity allowance (MA) will also increase from £145.18 to £148.68
  • The weekly rate of SSP will increase from £92.05 to £94.25 from 6 April 2019
  • The earnings threshold, 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.

These rates are still subject to Parliamentary approval.

Consultants

Stephen Tyas                             Stephen Ayres

 

 

Registered to carry on audit work in the UK as GBJ
Limited Liability Partnership by the Institute of
Chartered Accountants in England and Wales

Contact Us

Telephone: 01293 843900

Fax: 01293 614312

Email: office@tyas.com

5 East Park, Crawley, West Sussex, RH10 6AN

 

 

This website uses cookies to manage authentication, navigation and other functions. By using our website, you agree that we can place these types of cookies on your device.   Our Privacy Policy