Updates to Statutory Employment Rates From April 2024

statutory employment payments from april 2024

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New Statutory Employment Rates from April 2024

 

The annual uplifts in UK statutory employment rates and payments are as follows for 2024:

 

Statutory Redundancy Pay

 

Basic award calculations for statutory redundancy pay will now consider a maximum week’s pay of £643 up to 5 April 2024 and £700 from 6 April 2024. The maximum basic award, capped at 30 weeks’ pay, will be £19,290 until 5 April 2024 and will increase to £21,000 from 6 April 2024.

 

Guarantee Payments

 

In instances of lay-off or short-time working, the legal minimum payment is £35 per day, up to £175 over five days in any three-month period, until 5 April 2024. This increases to £38 per day, up to £190 from 6 April 2024.

 

National Minimum and Living Wages

 

From 1 April 2024, the National Living Wage will extend to workers aged 21 and over. Current rates up to 31 March 2024 are as follows: £5.28 per hour for apprentices under 19 or in their first year, £7.49 for apprentices in their second year and beyond, £5.28 for workers aged 16-17, £7.49 for workers aged 18-20, £10.18 for workers aged 21-22, and £10.42 for those 23 and over. From 1 April 2024, the rates will increase to £6.40 for apprentices, £8.60 for workers aged 18-20, and £11.44 for those aged 21 and over.

 

Statutory Sick Pay

 

Employees are eligible for up to 28 weeks of SSP, which will be £109.40 per week until 5 April 2024, increasing to £116.75 from 6 April 2024.

 

Statutory Maternity, Paternity, and Adoption Pay

 

For 39 weeks, the pay is £172.48 until 5 April 2024 and will rise to £184.03 from 6 April 2024. The first six weeks are paid at 90% of the employee’s average weekly earnings.

 

Maternity Allowance

 

From 9 April 2024, the rate is £172.48 per week, increasing to £184.03 from 10 April 2024.

 

Statutory Shared Parental and Bereavement Pay

 

Pay is £172.48 weekly until 1 April 2024, increasing to £184.03 from 2 April 2024.

 

Need assistance?

 

Employers should adjust their payroll systems accordingly to comply with these updates. For specialist advice on the new rules and how they impact your organisation, contact employment law and HR experts.

 

Last updated: 6 April 2024

Author

Founder and Managing Director Anne Morris is a fully qualified solicitor and trusted adviser to large corporates through to SMEs, providing strategic immigration and global mobility advice to support employers with UK operations to meet their workforce needs through corporate immigration.

She is a recognised by Legal 500 and Chambers as a legal expert and delivers Board-level advice on business migration and compliance risk management as well as overseeing the firm’s development of new client propositions and delivery of cost and time efficient processing of applications.

Anne is an active public speaker, immigration commentator, and immigration policy contributor and regularly hosts training sessions for employers and HR professionals

About DavidsonMorris

As employer solutions lawyers, DavidsonMorris offers a complete and cost-effective capability to meet employers’ needs across UK immigration and employment law, HR and global mobility.

Led by Anne Morris, one of the UK’s preeminent immigration lawyers, and with rankings in The Legal 500 and Chambers & Partners, we’re a multi-disciplinary team helping organisations to meet their people objectives, while reducing legal risk and nurturing workforce relations.

Legal Disclaimer

The matters contained in this article are intended to be for general information purposes only. This article does not constitute legal advice, nor is it a complete or authoritative statement of the law, and should not be treated as such. Whilst every effort is made to ensure that the information is correct at the time of writing, no warranty, express or implied, is given as to its accuracy and no liability is accepted for any error or omission. Before acting on any of the information contained herein, expert legal advice should be sought.

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