Small employers relief threshold and recovery rate

06 December 2016

 

Update from HMRC’s Software Developers Support Team (SDST):

 

Statutory Payments

The Small Employers Relief threshold (£45,000) and recovery rate (3%) remain unchanged for 17-18, as does the standard recovery rate (92%).

The proposed new weekly rates are shown below and will, subject to Parliamentary approval, apply for payment weeks beginning on or after the first Sunday in April which is 2 April 2017.

Statutory Adoption Pay                       £140.98

Statutory Maternity Pay                      £140.98

Statutory Paternity Pay                       £140.98

Statutory Shared Parental Pay          £140.98

The new Statutory Sick Pay weekly rate is £89.35 and will apply from 6 April 2017

 

Tax code uplifts

Code Suffix L: increased by 50

Code Suffix M: increased by 55

Code Suffix N: increased by 45

The emergency code (for the whole of the UK) will be 1150L X (W1/M1)

 

PAYE Tax Table Routines Specification

Values for the PAYE Tax Table Routines specification v15

R1 = 10.00%                         (Rate 1) NOT USED

R2 = 20.00%                         (Rate 2)

R3 = 40.00%                         (Rate 3)

R4 = 45.00%                         (Rate 4)

B1 = £0                                  (Band 1)

B2 = £33,500                        (Band 2)

B3 = £116,500                     (Band 3)

K1 = blank or zero               (Cumulative Annual Tax 1)

K2 = £6,700                          (Cumulative Annual Tax 2)

K3 = £53,300                        (Cumulative Annual Tax 3)

G pointer                               2

Maxrate                                 50%

 

An announcement about the Scottish tax rates and bandwidths for 17-18 is due to be made in the Scottish Draft Budget on 15 December 2016.