UK Budget 2020 – Payroll

Below is a summary of payroll related items from the budget.

Statutory Sick Pay – Coronavirus Emergency Measures

SSP paid by businesses with up to 250 employees will be able to reclaim the SSP paid to anyone affected by Coronavirus, for up to 14 days

SSP will be available to all staff who have to isolate even without symptoms. Staff may be able to obtain sick certificate from NHS111

National Living Wage

National Living Wage to rise to two thirds of median earnings by 2024. That means it could be £10.50

National Insurance

The National Insurance threshold will be increased £8,632 to £9,500 next month

Employment Allowance

The Employment Allowance to be increased to £4,000 per year. However eligibility will be changing from April