Changes to Statutory Payments
What payments are considered statutory payments?
Family friendly statutory payments include Statutory Maternity Pay, Statutory Paternity Pay, Statutory Adoption Pay, Statutory Shared Parental Pay and Statutory Parental Bereavement Pay. Statutory Sick Pay is also considered a statutory payment.
What are the changes to statutory payments?
From 7th April 2024, the parental statutory payment rates will increase from £172.48 to £184.03 per week. Statutory Sick Pay is also due to increase from £109.40 to £116.75 per week.
Who is responsible for the payment of statutory payments?
As an employer, you are legally obligated to make the statutory payments to the workers you engage who meet the qualifying conditions for the payments. You can claim back a proportion of the statutory family friendly payments paid to a worker from HMRC. You cannot however claim back Statutory Sick Pay.
Credit: REC