The new statutory payment rates have now been announced for tax year 2013-14 subject to parliamentary approval and are as follows:-
Statutory Payment Type Rate (per week)
Statutory Sick Pay (SSP) £86.70
Statutory Maternity Pay (SMP) £136.78
Ordinary Statutory Paternity Pay (OSPP) £136.78
Additional Statutory Paternity Pay (ASPP) £136.78
Statutory Adoption Pay (SAP) £136.78
Statutory Sick Pay (SSP) has increased by £0.85 per week from 6th April 2013 to £86.70 per week. This represents a 1% increase on the 2012-13 total of £85.85.
Statutory Maternity Pay (SMP), Ordinary Statutory Paternity Pay (OSPP), Additional Statutory Paternity Pay (ASPP) and Statutory Adoption Pay (SAP) have all increased by £1.33 with effect 6th April 2013 to £136.78 representing an increase of just under 1% from £135.45.
Small Employers Compensation Rate
The small employers compensation rate will remain at 3% for 2013-14.
If your annual liability for Class 1 National Insurance contributions (NICS) is £45,000 or less in the relevant tax year, you can recover 100% of your SMP, OSPP, ASPP or SAP payments plus an additional amount as compensation for the employers Class 1 NICs you’ll have paid on the SMP, OSPP, ASPP, or SAP.
The compensation rate is as follows:-
• 3% for tax years 2010-11 and onwards
• 4.5% for tax years 2009-10 and earlier
If your annual liability for Class 1 NICs is more than £45,000 in the relevant tax year, you can recover 92% of the total of all payments of SMP, OSPP, ASPP or SAP made in the same tax year.