Rates and thresholds for 2023/24
28 February 2023
HM Revenue and Customs (HMRC) has now published the GOV.UK guidance on the rates and thresholds for employers 2023 to 2024.
As a reminder, the figures on the guidance will apply for the period 6 April 2023 to 5 April 2024. However, payroll professionals should be aware that the National Minimum Wage (NMW) applies from 1 April 2023. Whereas the new weekly rates for statutory maternity pay (SMP), statutory paternity pay (SPP), statutory adoption pay (SAP), statutory parental bereavement pay (SPBP) and shared parental pay (ShPP) will come into effect from full parental pay weeks starting on or after 2 April 2023.
The much-awaited spring budget will be announced by the chancellor of the Exchequer, Jeremy Hunt, on 15 March 2023. The budget will lay out the government's tax and spending plans, with changes impacting both businesses and individuals. Register for the free budget update webinar now, taking place on 16 March 2023 which is being presented by the policy and research team.
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