With the new tax year, what are the key changes that may affect you?
With the start of the new Tax Year, the team at Employers For Childcare have provided a quick update on some of the key changes that may affect parents and employers. We have also provided links where you can find more information on changes that are relevant to you:
The National Minimum Wage and National Living Wage rates have increased for all age groups:
Statutory payments related to Maternity, Paternity, Adoption, Bereavement and Sickness have all increased:
National Insurance rates have increased for one year by 1.25 percentage points:
From July 2022 the threshold at which National Insurance must be paid will rise, meaning a saving from then for many employees. Updated rates and thresholds will be published before these changes take effect.
The increase in the National Insurance rate will mean greater savings for users of the Childcare Voucher Scheme and for employers:
Eligible working parents in Northern Ireland will be entitled to two weeks’ statutory paid leave following the death of a child or a stillbirth (after 24 weeks of pregnancy):
Disability benefit rates have been increased:
Carer’s Allowance has been increased:
The State Pension rate has increased:
Various other benefits have also increased. You can find the full list of the increases that have been introduced here.
Find out more
For more information on any of the information mentioned above or to have a personalised ‘better off’ calculation, please phone our Family Benefits Advice Team on 0800 028 3008 or email email@example.com.