A number of key laws have been introduced which will affect companies with a UK presence:
A new law has been put into effect this week that has made it mandatory for employers to provide payslips to all workers at or before payday.
For employees who work by the hour, these payslips are to show the number of hours worked and the corresponding pay rate for the time. For employers under contract, payslips are intended to provide information on overtime hours or cases where there is departure from the normal working arrangements regarding unpaid leave or sick days.
This law has been implemented to give workers more transparency and ensure that they are receiving the correct payment. It is also intended to guarantee that minimum wage and living wage standards are upheld by employers.
National Living Wage
The National Living Wage is increasing to all ages.
- 25 years old and over – £21
- 21 – 24 years old – £70
- 18 – 20 years old – £15
Contributions toward pension scheme have risen. The new hikes have implemented a 5% contribution from the employee and a 3% contribution from the employer.
Statutory Sick Pay
The weekly pay rate has increased for employees who are too ill to work for a period of four or more days. The pay rate will increase from £92.05 to £94.25.
Gender Pay Gap Report
Publication of gender gap pay is now required by the private and public sector. Reports will consist of:
- mean gender pay gap
- median gender pay gap
- mean bonus gender pay gap
- median bonus gender pay gap
- proportion of men in the organisation receiving a bonus payment
- proportion of women the organisation receiving a bonus payment
- proportion of men and women in each quarterly pay band
Make sure you’re up to date with all changes to avoid any compliance issues. For more details see our UK payroll and benefits guide.