· The contracted-out rebate for primary contributions in 2012-13 is 1.4% of earnings between the LEL and the upper accrual point (UAP) of £770 for contracted-out salary- related schemes (COSRS). · Contracting out for money purchase schemes (COMPS) will be abolished on 5 April 2012. · The contracted-out rebate for secondary contributions is 3.4% of earnings between the LEL and UAP for COSRS.
Other NICs rates
2012-13
2011-12
Married Women’s Reduced Rate
5.85%
5.85%
Special Class 2 rate for share fishermen
£3.15 per week £3.30 per week
Special Class 2 rate for volunteer development workers
£5.10 per week £5.35 per week
Class 3 rate
£12.60 per week £13.25 per week
Follow this link to view all tables for tax and tax credit rates and thresholds for 2012-13
2012 STATUTORY PAYMENT RATES AND THRESHOLDS
12 December 2011 The Department for Work and Pensions have published the statutory payment rates and thresholds for 2012. 2011 2012 Statutory Adoption Pay Earnings Threshold £102.00 £107.00 Standard Rate £128.73 £135.45 Statutory Maternity Pay Earnings Threshold £102.00 £107.00 Standard Rate £128.73 £135.45 Ordinary Statutory Paternity Pay Earnings Threshold £102.00 £107.00 Standard Rate £128.73 £135.45 Additional Statutory Paternity Pay Earnings Threshold £102.00 £107.00 Standard Rate £128.73 £135.45
Statutory Sick Pay Earnings Threshold Standard Rate
£102.00 £81.60
£107.00 £85.85
For employees earning £107.00 or more per week in 2012-13, the above rate of Statutory Maternity, Paternity and Adoption Pay will apply for complete pay weeks commencing on or after 1 April 2012 (the first Sunday in April), for Statutory Sick Pay this will apply from 6 April 2012.
CIPP Policy News Journal
09/10/2012, Page 124 of 234
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