Statutory payment rates and thresholds for 2011/12Friday, December 10th, 2010
The new tax and NICs rates and thresholds for 2011/12 were announced by the Treasury on 2 December, followed by the new statutory payment rates from the Department for Work and Pensions. In general they reflect the 4.6% increase in retail prices in the year to September 2010. The legislation for the increases in the tax allowances is already in place, although the higher increase in the personal allowance (which would otherwise be £6,785) and the reduction in the basic rate limit (which would otherwise be £39,200) require further legislation.
The following Table shows the tax allowances since the 2008/09 tax year.
* The tax relief on the married couple’s allowance is restricted to 10%.
There are no changes to tax rates. The tax thresholds since the 2008/09 tax year are as follows.
The Class 1 NICs thresholds for 2010/11 and 2011/12 are as follows.
* These values are specifically defined in statute. All other values are calculated according to statutory calculation and rounding rules. As the legislation has not yet been published, some figures are subject to confirmation.
** The UAP is a fixed value and does not change each year.
The National Insurance Contribution rates for 2011/12, covering all NI Table letters, are as follows.
Statutory Sick Pay
The weekly rate of SSP increases from £79.15 to £81.60 from 6 April 2011. The daily rates are shown in the following table. The earnings threshold is £102 per week.
Statutory Maternity/Adoption/Ordinary Paternity/Additional Paternity Pay
The standard weekly rate of SMP, SAP. OSPP and ASPP is £128.73 from Sunday, 3 April 2011, up from £124.88. The daily rate is £18.39 exactly. The earnings threshold is £102 per week.