Tax Diary December 2018/January 2019November 29, 2018
Could you claim expenses and an early tax refund?December 5, 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 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.