Jan 2021
26
New Proposed Statutory Payment Rates Announced for 2021-22
As there was no Autumn Statement or Budget from Chancellor Rishi Sunak, the financial secretary to the Treasury, Jesse Norman announced a written ministerial statement in the House of Commons with details of the increase of the National Insurance thresholds. The 2020 Autumn Spending Review confirmed that the personal tax allowance and tax basic rate threshold would increase by 0.5%. This is based on the consumer price index.
This would mean that the personal tax allowance for 2021-22 would increase by £70 from £12,500 to £12,570 and the tax basic rate threshold for 2021-22 would increase to £37,700 from £37,500.
The annual National Insurance threshold for Small Employer’ Relief remains at £45,000.
Please see some rates details below:
Statutory Adoption Pay |
2020-21 | 2021-22 |
| Earnings threshold | £120.00 | £120.00 |
| Standard rate | £151.20 | £151.97 |
Statutory Maternity Pay |
2020-21 | 2021-22 |
| Earnings Threshold | £120.00 | £120.00 |
| Standard Rate | £151.20 | £151.97 |
Statutory Paternity Pay |
2020-21 | 2021-22 |
| Earnings Threshold | £120.00 | £120.00 |
| Standard Rate | £151.20 | £151.97 |
Statutory Shared Parental Pay |
2020-21 | 2021-22 |
| Earnings Threshold | £120.00 | £120.00 |
| Standard Rate | £151.20 | £151.97 |
Statutory Sick Pay |
2020-21 | 2021-22 |
| Earnings Threshold | £120.00 | £120.00 |
| Standard Rate | £95.85 | £96.35 |
