Abacus April 2003
PATERNITY AND ADOPTION PAY
Employees Position
The 6th of April 2003 saw the introduction of Statutory Paternity and Statutory Adoption leave and pay which will be available to parents whose children are due on or after that date.
Entitlement To Statutory Paternity Pay (SPP)
Working partners will be given the right to two weeks SPP as long as they meet certain conditions.
The rate of SPP from 6th April 2003 will be £100 per week or 90% of average weekly earnings which ever is lower. SPP is subject to Tax and NI.
Paternity Leave
Paternity leave period lasts for a maximum of 2 weeks and can only be taken in a single period of one or two weeks. The earliest it can be taken is the day that the baby is born; the latest is any time up to 56 days after childbirth.
Statutory Adoption Pay (SAP)
SAP and leave applies to any employee adopting a child newly placed after 6th April 2003.
SAP is available to either men or women. Only one partner can elect to receive SAP and the other can claim SPP if they qualify. Again certain criteria must be met to qualify for this pay.
Adoption Leave
Adoption leave can start up to 2 weeks before the date of placement. It can be taken in whole weeks and is paid at a rate of £100 per week or 90% of average earnings which ever is the lower. It is paid for 26 weeks. For those who qualify a further 26 weeks unpaid adoption leave can be taken.
Employers Position
Small employers (NIC liability must be less than £40000 in qualifying tax year) can recover 100% plus 4.5% NIC rebate. Larger employers can recover 92% of SPP and SAP.
FOR FURTHER INFORMATION PLEASE CONTACT SUZANNE PRECIOUS AT NUNN HAYWARD. |
Guilty, m’lud
We thought we should draw your attention to an EU Directive, which may effect you.
The Fourth EU Motor Insurance Directive required all motor fleet operators to submit to the UK Motor Insurance Database (MID) details of vehicles covered by their insurance policies. A failure to comply with the Directive can lead to prosecution.
It might be worth contacting your insurers to see if they have provided an internet solution to help with notifying and keeping up-to-date the information required by the MID. |
Please contact us to discuss the above further
Tel: 01753 888211 Fax: 01753 889669 Email: abacus@nunn-hayward.com
Nunn Hayward, Sterling House, 20 Station Road, Gerrards Cross, Bucks SL9 8EL. |
Chartered Accountants, Registered Auditors and Insolvency Practitioners. Authorised to conduct Investment Business under the Financial Services and Marketing Act 2000 and regulated by the Financial Services Authority. This publication has been prepared as a guide only to topics of current financial and business interest. No responsibility for loss occasioned to any person acting or refraining from acting as a result of any material in this publication can be accepted by us. All rights reserved. If you would like to subscribe to future editions of the Abacus Newsletter then please e-mail your name and address and we will add you to our mailing list. |
|
