The Employment Rights (Increase of Limits) order 2012, was laid before Parliament on the 4 th December 2012.
The new rates, due to come in to force on the 1 st February 2013, will see an increase to the weekly rate of Statutory Redundancy Pay from £430 to £450. The limit on the amount of compensatory award for unfair dismissal also sees an increase from £72,300 to £74,200. Full and further details of all compensatory award limits contained within the order will come in to force for any settlements falling on or after 1 st February 2013.
CLASS 1 NIC THRESHOLDS AND STATUTORY PAYMENT RATES FOR 2013/2014
10 December 2012
Following the Chancellor’s Autumn Statement on the 5th December the Class 1 NIC thresholds for 2013/2014 along with the rates to be used for NICs compensation and for statutory payments have been released by the Software Developers Support Team. Class 1 NIC Thresholds Whilst 2013/2014 will not see an increase to the Class 1 NIC primary or secondary rates, there are some slight increases to the thresholds (except for the Upper Accruals Point)
Lower earnings limit (LEL)
£109 weekly £218 2-weekly £436 4-weekly £473 monthly £5,668 annual £148 weekly £296 2-weekly £592 4-weekly £641 monthly £7,696 annual £149 weekly £299 2-weekly £597 4-weekly £646 monthly £7,755 annual £770 weekly £1,540 2-weekly £3,080 4-weekly £3,337 monthly £40,040 annual £797 weekly £1,595 2-weekly £3,189 4-weekly £3,454 monthly £41,450 annual
Secondary Threshold (ST)
Primary Threshold (PT)
Upper accrual point (UAP)
(no change to current thresholds)
Upper earnings limit (UEL)
Statutory Payment rates 2013/2014
CIPP Policy News Journal
12/04/2013, Page 179 of 362
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