US EditionIncrease to SMP recovery rate for smaller employers
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Increase to SMP recovery rate for smaller employers
Smaller employers (those who have gross Class 1 National Insurance contributions liability of £45,000 or less in the previous tax year) can recover 100% of the statutory maternity pay they have paid out plus an additional compensation payment. This additional rate is currently 3% but will increase on 6 April 2025 to 8.5%, allowing for a total recovery of 108.5%. What’s the reason for this? Small Employers Relief seeks to support smaller employer…
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