Rates and Thresholds
Statutory payment recovery rates for 2015-2016 15 December 2014
The statutory payment recovery rates and NIC threshold for 2015-2016 have now been confirmed.
The Department for Work and Pensions (DWP) has confirmed that the statutory payment recovery rates and NIC threshold will remain the same for 2015-2016:
92% if the total Class 1 NICs (both employee and employer contributions) are above £45,000 for the previous tax year, 100% plus an additional 3% (NIC compensation rate) if the total Class 1 NICs for the previous tax year are £45,000 or lower.
Statutory payment rates for 2015-16 6 January 2015
If readers who need the new statutory payment rates and thresholds have not yet located them, we repeat them below.
We apologise that confirmation of the statutory payment figures was overlooked in the flurry of announcements on Autumn Statement day. The proposed thresholds and rates are set out below:
2014-15 2015-16
STATUTORY ADOPTION PAY Earnings threshold
111.00 112.00 138.18 139.58
Standard Rate
STATUTORY MATERNITY PAY Earnings threshold
111.00 112.00 138.18 139.58
Standard rate
STATUTORY PATERNITY PAY Earnings threshold
111.00 112.00 138.18 139.58 138.18 139.58
Standard Rate
Additional statutory paternity pay
STATUTORY SHARED PARENTAL PAY Earnings threshold
111.00 112.00 138.18 139.58
Standard rate
STATUTORY SICK PAY Earnings threshold
111.00 112.00 87.55 88.45
Standard rate
Rates and thresholds for employers 2015 to 2016 2 February 2015
HMRC has published the key rates and thresholds for 2015-16 on GOV.UK.
The following rates and thresholds are now available on GOV.UK .
PAYE tax and Class 1 National Insurance contributions (NICs) National minimum wage Statutory maternity, paternity and adoption pay Statutory Sick Pay (SSP) Student loan recovery
CIPP Policy News Journal
25/04/2016, Page 395 of 453
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