Statutory rates

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Quick Facts

4th December 2023

  • Most key rates are reviewed every year and in most cases they are increased.

  • The dates on which different employment-related rates increase, such as family-friendly statutory pay (eg maternity, adoption, etc), statutory sick pay and National Minimum/Living Wage, are usually different and so care must be taken to only apply a new rate once it is in force. Typically, these are all around the beginning of April each year.

  • Unless indicated otherwise, these rates apply in England, Scotland and Wales.

Summary

In this section, we outline the key statutory rates and figures that employers need to know, as well as information on historical rates.

In Practice

Compensation Limits

Payments

From 6 April 2022

From 6 April 2023

Limit on guarantee payments

£31

£35

Limit on a week's pay for calculating redundancy and unfair dismissal basic award

£571

£643

Maximum basic award for unfair dismissal and statutory redundancy payment (30 weeks' pay subject to the limit on week's pay)

£17,130

£19,290

Minimum basic award for dismissal on trade union, health and safety, occupational pension scheme trustee, employee representative and on working time grounds only

£6959

£7836

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