FINANCE


Employment law – a year of change


Employment law was always planning to make its presence felt in 2017, and it doesn’t look set to disappoint. With so many significant updates afoot, just about every company in the


UK will need to act to ensure they are compliant. Legal expert and Head of the Banner Jones Employment Law Division,


Katie Ash, outlines some of the most significant changes afoot and offers advice on how to make sure you are best prepared.


MINIMUM WAGE DATE CHANGES More than five per cent of people in the UK are affected by this particular topic. Whereas elements of the scheduled increase – namely for workers under the age of 25 – have previously been enforced in October, this year the national minimum wage cycle has been aligned, meaning all age groups will be eligible for the relevant new rate of pay from 1 April.


FOREIGN WORKERS VISA FEES As of April 2017 employers will be required to pay an additional charge on top of existing visa fees when sponsoring foreign workers. Known as the ‘skills charge’ – and costing a total of £1,000 per worker


with a tier two visa – the fee is intended to encourage businesses to bring on and upskill UK employees. In addition, a minimum salary threshold of £30,000 will be introduced for anyone classed as an experienced worker. These new fees are in addition to the existing costs of acquiring a visa


and will potentially impact a large number of employers looking to bolster the skills and expertise of their workforce from outside the UK. However, there is some relief due to come into force in April 2017 for charities and small organisations which will be subject to a lower fee.


GENDER PAY GAP REPORTING The introduction of gender pay gap reporting requires employers to not only submit evidence of compliance to Government on an annual basis, but also ensure the details are available to the public and their employees via the company website. Gender pay gap reporting doesn’t technically kick in until April 2018, but


as employers will need to backdate the information they publish it is vital that the mechanisms are in place to capture the necessary data ASAP, definitely by April 2017.


SALARY SACRIFICE SCHEMES Many businesses have benefited from the salary sacrifice schemes, which allow employees to give up a portion of their salary in return for a non-cash benefit. However, despite its popularity, the


Chancellor announced in his Autumn Statement 2016 that changes - or, to call a spade a spade, cuts - would be introduced as early as April 2017, with the exception of ‘funds’ for childcare, pensions, cycle-to-work initiatives and ultra-low emission cars. Despite coming as a blow to many,


there are various exceptions to the rule. It is therefore worth speaking to an expert to see whether you are impacted.


Katie Ash


Your People – Your Business – Your Success


Unique positioning in the recruitment industry can be challenging. Astute’s team re-positioned themselves to become a specialist SME financial recruitment business, recruiting solely for industry. What’s more, Astute is the only recruitment business to offer a Triple-Point-Guarantee. If things go wrong, they work with their clients to fix the problem and will penalise themselves financially in the process. This boils down to confidence in the provision of a service second to none and gives comfort to businesses using the services of a recruitment company for the first time.


With a new website, social media channels and a business development strategy, which has nothing to do with selling, they’ve gained new regional recognition and picked up numerous awards.


Astute Recruitment - Specialist Financial Recruiters St Michael’s, Queen Street, Derby DE1 3SU


Tel: 01332 346 100 Email: derby@astuterecruitment.com Web: astuterecruitment.com


52 business network March 2017


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