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Chartered Certified Accountants
and Business Advisors

01530 267320

Statutory Rates Will Change - 2017

In April 2017 the National Living Wage (NLW), National Minimum Wage (NMW), Statutory Sick Pay (SSP), Statutory maternity Pay (SMP) and Statutory Maternity Pay (SPP) will all be changing.  So, what is happening?

From the 1st April 2017:

The National Living Wage and National Minimum Wage will be aligned and the rates will be:

  • National Living Wage will rise to £7.50 per hour for all employees over the age of 25.
  • NMW for all workers aged 21 and over but under 25 will rise to £7.05 per hour
  • NMW for workers aged 18 – 20 – will rise to £5.60 per hour
  • NMW for workers aged 16-17 – will rise to £4.05 per hour
  • Apprentice rate will rise to £3.50 per hour

Statutory Rates (likely to take effect from the 10th April 2017)

The new rates for statutory pay will be:

  • Statutory Sick Pay – will increase to £89.35 per week.
  • Statutory Maternity Pay, Statutory Paternity Pay, Statutory Shared Parental Pay and Statutory Adoption pay will rise to £140.98 per week.

If you would like any further information and help on statutory pay rates, call our Payroll Team on 01530 267 320 or email info@senceaccounting.co.uk

03 Mar 2017

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