What does 2016 have in store for us on the legislative timeline? well quite a few changes are on the agenda for implementation this year which will have an impact on businesses and individuals. Below I have outlined a few of the key ones but this list is by no means exhaustive. This guidance is meant for information purposes only and should not be relied on as legal advice.
7 March 2016
New rules on regulatory references for the Financial Sector: new laws comes into effect which requires employers to obtain and provide specific disclosures in relation to specified roles in the financial sector. The regulations also require employers to update such references following an employee’s departure if issues come to light which fall within the scope of the specific disclosure.
Public sector exit pay becomes repayable: this bill provides that employees in the public sector who earn £80,000 or more who receive an exit payment and return to public sector employment within a year of leaving will have to repay such payments.
1 April 2016
Compulsory National Living Wage Introduced: The National Minimum Wage amendment regulations 2016 will introduce the National Living Wage which provides that adults age 25 and over will earn a minimum of £7.20 an hour.
6 April 2016
- Personal income tax allowance rises to £11,000.
- Employers National Insurance Contributions for apprentices under age 25 is abolished with immediate effect from 6th April 2016.
- Increase to basic rate tax threshold: this increases to £35,000 from 6th April 2016.
- Pension tax relief reduced for those earning £150,000 and over from 6th April 2016
- Salary requirement for tier 2 workers introduced: tier 2 workers on the points based general and sportsperson visa wishing to settle in the UK from 6th April 2016 will need to earn a minimum of £35,000.
- Single tier state pension introduced thus ending the ability to opt out of the state second pension scheme.
7 September 2016
New Whistleblowing regulations for the Financial Sector comes into force. Employers in this sector will be required to appoint a whistleblowing champion for the organisation and ensure that managers and employees all receive training on how to blow the whistle.
2016 … at some point
Mandatory gender pay reporting comes into force: employers will be required to publish information on differences in pay as it relates to gender.
Glenn HR Limited is an HR Consultancy based in Kent, England offering bespoke and tailored services to start ups, small and medium sized enterprises, schools, academies and larger organisations. We pride ourselves on our approach and our flexibility in supporting our clients to achieve their goals.
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