Statutory Government Rates – From April 2024
Shared Parental Pay (SHPP) £184.03
Maternity Pay (SMP) £184.03
Statutory Adoption Pay (SAP) £184.03
Statutory Bereavement Pay (SBP) £184.03
Statutory Rates for Paternity Pay (SPP) £184.03
Pension Contributions Employee 5%
Employer 3%
For the 2022/23 tax year, you’ll pay contributions on any earnings between £6,240 and £50,270.
Redundancy – Limit on a week’s pay for calculating redundancy and unfair dismissal basic award
£700
Maximum basic award for unfair dismissal and statutory redundancy payment (30 weeks’ pay subject to the limit on week’s pay)
£16,320
Minimum award for dismissal on TU, H&S, occupational pension scheme trustee, employee rep & on working time grounds only
£6,634
Maximum compensatory award for unfair dismissal: a year’s pay
£115,115
Contract claims if in an employment tribunal
£25,000
National Insurance Lower Earnings Limit
£6,396
Statutory Sick Pay
£116.75 per week
Statutory Guarantee Pay
£38 per day
National Minimum Wage
£11.44 for workers aged 23 and over (the national living wage)
£10.18 for workers aged 21 or 22
£8.60 for workers aged 18 to 20
£6.40 for workers aged under 18 who are no longer of compulsory school age
£6.40 for apprentices under 19, or over 19 and in the first year of the apprenticeship.
