vap
chartered certified accountants
CLIENTS page
CLIENTS page
STATUTORY MATERNITY PAY & STATUTORY ADOPTION PAY |
2024/25 |
2022/23 |
Weekly rate for first 6 weeks |
90% of the employee’s average weekly earnings. |
90% of the employee’s average weekly earnings. |
Weekly rate for remaining 33 weeks |
Lower of £184.03 per week or 90% of the employee’s average weekly earnings. |
Lower of £172.48 per week or 90% of the employee’s average weekly earnings. |
ORDINARY STATUTORY PATERNITY PAY |
2024/25 |
2023/24 |
Weekly rate If 2 weeks leave taken, they must be taken together |
1 or 2 weeks - Lower of £184.03 per week or 90% of the employee’s average weekly earnings. |
1 or 2 weeks - Lower of £172.48 per week or 90% of the employee’s average weekly earnings. |
RECOVERY OF STATUTORY PAYMENTS FOR EMPLOYERS |
2024/25 |
2023/24 |
Proportion of the statutory payments of Statutory Maternity Pay/Statutory Paternity Pay/Statutory Adoption Pay an employer can recover from HMRC |
103% of the payments if the total Class 1 NICs (both employee and employer contributions) were below £45,000 for the previous tax year. |
103% of the payments if the total Class 1 NICs (both employee and employer contributions) were below £45,000 for the previous tax year. |
92% of the payments if the total Class 1 NICs (both employee and employer contributions) were above £45,000 for the previous tax year. |
92% of the payments if the total Class 1 NICs (both employee and employer contributions) were above £45,000 for the previous tax year. | |
Proportion of SSP an employer can recover from HMRC - Nil (as this was withdrawn from April 2014), unless Covid related. |
STATUTORY SICK PAY |
2024/25 |
Notes |
Weekly rate |
£116.75 |
Daily rate to pay an employee (the daily rate) depends on the number of qualifying days they work each week. E.g. If an employee is first sick for 1 week from Sunday to Friday, the QDs days in that week are Monday to Friday - 5 days. The first 3 QDs are waiting days and SSP is not payable for those days, so only pay SSP for Thursday and Friday. Therefore, daily rate £23.35 x 2 days = £46.70 = SSP for that week. |
Daily rate - 1 qualifying day in week |
£116.75 | |
Daily rate - 2 qualifying days in week |
£58.37 | |
Daily rate - 3 qualifying days in week |
£38.92 | |
Daily rate - 4 qualifying days in week |
£29.19 | |
Daily rate - 5 qualifying days in week |
£23.35 | |
Daily rate - 6 qualifying days in week |
£19.46 | |
Daily rate - 7 qualifying days in week |
£16.68 |
STUDENT LOAN DEDUCTIONS |
2024/25 |
2023/24 |
Notes | |
PLAN 1 - loans taken out before 1.9.2012 Earnings threshold at which repayment of student loan begins |
per week per month per year |
£480.57 £2,082.50 £24,990 |
£423.36 £1,834.58 £22,015 |
From 2016/17 the rate of student loan deduction depends on whether it is PLAN 1 or PLAN 2.The rate of student loan deductions is 9% above the threshold. e.g. PLAN 1 student earning £25,000 per year (£2,083 p.m.) in 2023/24 has a deduction of £25,000-£22,015 = £2,985 x 9% = £268.65 per year (£22.39 per mth).Postgraduate loans have different rates and thresholds. |
PLAN 2 - loans taken out after 1.9.2012 Earnings threshold at which repayment of student loan begins |
per week per month per year |
£524.90 £2,274.58 £27,295 |
£524.90 £2,274.58 £27,295 | |
PLAN 4 - (SLP4) applies to loans taken out by Scottish students from the Students Awards Agency Scotland |
per week per month per year |
£603.75 £2,616.25 £31,395 |
£531.92 £2,305 £27,660 |