Statutory maternity, adoption, paternity, shared parental and sick pay to rise from April 2018

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.

Posted in Employment & Payroll

Exeter Accountant MJ Smith & Co

Celebrating 25 years of excellence.

Free 1st Meeting
Fixed Fees
Free Support!

Find out more

Client Portal Login

Forgot Password?

Latest News

2020 May bank holiday will be moved to mark 75th anniversary of VE Day

The government has announced that the date of next year’s early May bank holiday is to move from Monday, 4 …
Read More

HMRC’s complaint handling process

Taxpayers may find themselves in a position where they need to make a complaint to HMRC. Complaints can relate to …
Read More

VAT and disaggregation

The artificial separation of businesses is where two or more businesses are split, and each 'separate' entity operates below the …
Read More

Twitter Feed