We previously published a detailed note on the draft regulations. Many issues and concerns raised during the consultation have been addressed in the Regulations. There are some welcome changes and more detail provided, for instance on how to calculate pay, although some areas of uncertainty remain.
Although the Regulations came into force on 6 April 2017, the new snapshot date for the purposes of measuring the gender pay gap is 5 April 2017 and annually thereafter, to align with the end of the tax year.
The required information must be published within a year of the snapshot date of 5 April 2017 i.e. by 4 April 2018. The Regulations require you to take a ‘snapshot’ of your gender pay gap on 5 April 2017 and bonus pay details for the 12 months preceding 5 April 2017 i.e. from 6 April 2016 to 5 April 2017.
For more information, if you would like to discuss any aspect of these changes and the impact upon your business in more detail, or if you would like information on how DWF can support your business in the auditing and report process please get in touch
Our 60 minute practical webinarwill take you through the key requirements for gender pay gap reporting, the implications for your business and how DWF can help you prepare.
We have identified three key business areas affected by Brexit, to help you proof your business:
i.) Labour, people and employment;
ii.) Tariffs and customs barriers to the movement of goods;
iii.) Non-tariff barriers and regulatory issues that will affect future trade flows, both in goods and services.