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From time to time your employees may take absences from work due to sickness, maternity, paternity or adoption. These absences are often covered by statutory payments. As an employer it is your job to determine if these absences quality for the appropriate statutory payment that will cover their absence, then make the payment to them.
HMRC allows you to reclaim some of these statutory payments from them. This is done by reducing the PAYE taxes and the national insurance liabilities that you pay to HMRC. If your PAYE liabilities are too low to cover these statutory payments then you can request for advance funding from HMRC to recover these payments. This often comes in handy to cover maternity leaves.
Statutory payment calculations are important for the functioning of any business. There are a few different types of statutory payment calculations. These include:
With our service you can outsource all of your statutory payment calculations such as SSP, SMP, SPP etc. We will ensure that your employee payroll is updated to reflect the statutory payment and that the relevant records are maintained for your PAYE requirements. Our team offers the best support and services that you will ever need. Trust us to help you shape a successful business.