Dec 2014
17
Statutory payment recovery rates for 2015-2016
The statutory payment recovery rates and NIC threshold for 2015-2016 have now been confirmed.
The Department for Work and Pensions (DWP) have confirmed that the statutory payment recovery rates and NIC threshold will remain the same for 2015-2016:
• 92% if the total Class 1 NICs (both employee and employer contributions) are above £45,000 for the previous tax year,
• 100% plus an additional 3% (NIC compensation rate) if the total Class 1 NICs for the previous tax year are £45,000 or lower.
