STATUTORY RATES - 20.11.2019

Where are the 2020/21 statutory rates?

Election delay. Around the end of November we usually advise you about the new statutory rates for the forthcoming tax year, e.g. the national minimum wage, national living wage, statutory sick pay and statutory maternity/paternity pay rates. This year we aren’t able do that because of the election on 12 December 2019 . When it was called the Chancellor’s November Budget was cancelled - that’s when the statutory rates for the forthcoming tax year are usually confirmed. Therefore, it’s possible that the 2020/21 statutory rates won’t be available until January 2020.

Expected. What we can tell you is that it’s likely that all of the rates will be uplifted in April 2020. A freeze is unlikely, even if we have a change of government. We will bring you all the details as soon as the information is released.

The 2020/21 national minimum wage and statutory rates have been delayed due to the general election. We’ll bring you full details as soon as they’re available. In the meantime, work on the basis that all of the statutory rates will rise in April 2020.

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