Along with all manner of financial year deadlines and planning, businesses have more than enough things in their diaries to keep themselves busy.
April 2017 present many other points of law that need to be borne in mind.
Here is a breakdown of some of the things employers, employees and HR advisors alike need to be aware of:
1) Increase in statutory redundancy pay
New limits come into force for employment statutory redundancy pay on 6 April 2017.
The weekly pay is set to a maximum amount. This will increase from £479 to £489.
2) National minimum wage increase
The rate for workers aged 25 and over increases from £7.20 to £7.50 from 1 April 2017.
The rates within the other age bands shall also increase as follows:
- £7.05 per hour – 21-24 yrs old
- £5.60 per hour – 18-20 yrs old
- £4.05 per hour – 16-17 yrs old
- £3.50 for apprentices under 19 or 19 or over who are in the first year of apprenticeship.
3) Self-employed rise in National Insurance no more
Philip Hammond has had a U-turn of sorts in going back on his plans to increase NI for the self-employed until the next general election (at least).
Self-employed – you may proceed to rejoice.
4) Immigration skills charge
Employers who sponsor skilled worked under tier 2 of the immigration points-based system will have to pay a £1,000 levy per certificate for sponsorship per year (£364 for small employers and charities).
This change is due to come in on 6 April 2017.
The question is whether this will change with the effect of Brexit…
5) Gender pay gap reporting rules
Employers with 250 or more employees will have to report data about their gender pay gap, including bonus payments on an annual basis.
Employers will also be obliged to report on the proportion of male & female employees in different pay remits and those who receive bonuses.
Businesses must use 31 March as their snapshot date.
The above are but a few. You could learn more by coming to the Hedges Law Breakfast Legal Briefing on Wednesday 22 March 2017 at Howbery Business Park, Oxfordshire.
Get in touch to find out more.