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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. 

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