} SOCIAL SECURITY BENEFITS Weekly rates for 2022/23 (taxable unless stated otherwise). Employment and Support Allowance (contribution-based taxable) 13-week assessment phase Aged under 25: up to £61.05 Aged 25 or over: up to £77.00 From week 14 after Work Capability Assessment if eligible In Work Related Activity Group up to £107.60 In Support Group up to £117.60 Bereavement Support Payments (non-taxable) – initial and for 18 months Higher rate:* £3,500 lump sum £350 monthly Standard rate: £2,500 lump sum £100 monthly *If entitled to or claiming Child Benefit or pregnant at partner’s death Statutory Pay Rates Based onminimum average earnings of at least £123pw: Statutory Sick Pay £99.35 standard rate Statutory Maternity Pay/Statutory Adoption Pay First 6 weeks – 90% of average weekly pay Next 33 weeks – 90% of average weekly pay up to £156.66 Statutory Paternity Pay 90% of average weekly pay up to £156.66 Shared Parental Pay Up to 37 weeks: 90% of average weekly pay up to £156.66 Child Benefit (see ‘Income Tax – High Income Child Benefit Charge’) First or only child £21.80 Each subsequent child £14.45 National Living/National Minimum Wage (hourly) 1/4/22 – 31/3/23 Aged 23 and over National Living Wage £9.50 Aged 21–22 National Minimum Wage £9.18 Aged 18–20 National Minimum Wage £6.83 Aged under 18 National Minimum Wage £4.81 Apprentice National Minimum Wage £4.81 MAIN DUE DATES FOR TAX PAYMENTS Income Tax, NICs and Capital Gains Tax – Self-Assessment 31 Jan in tax year Normally 50% of previous year’s income tax Following 31 July (less tax deducted at source) and class 4 NICs Following 31 Jan Balance of income tax, class 4 NICs, CGT and all class 2 NICs Inheritance Tax On death: Normally 6 months after end of month of death Lifetime transfer 6 April–30 September: 30 April in following year Lifetime transfer 1 October–5 April: 6 months after month of transfer Corporation Tax – Self Assessment • Profits under £1,500,000: 9 months + 1 day after end of accounting period • Profits £1,500,000 or over: normally payable in 7th, 10th, 13th and 16th months after start of the accounting period • Profits £20,000,000 or over: normally payable in 3rd, 6th, 9th and 12th months after start of the accounting period • Growing companies: no instalments where profits are £10,000,000 or less and the company was not a large company for the previous year. © Copyright 23 March 2022 Subject to relevant legislation For information only Always seek professional advice before acting
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