The key employment law amendments that will come into force in April 2017 are:
From 1st April the national minimum wage (NMW) and national living wage (NLW) levels are:
From the 6th April, the following changes specific to affect SME's are:
Salary sacrifice schemes that enjoy PAYE and National Insurance advantages will be limited to certain employee benefits-in-kind only. These include:-
Arrangements already in place prior to 6 April 2017 are protected until April 2018 and other arrangements relating to accommodation, cars and school fees will be protected until April 2021.
You are advised to check this carefully with your payroll provider or accountant.
Compensation limits increases as follows:-
Family-related pay changes for pay weeks on or after 2nd April 2017 affecting:-
increase from £139.58 to £140.98 per week.
The weekly rate of statutory sick pay (SSP) will increase from £88.45 to £89.35 from 6th April 2017.
Pensions:- the automatic enrolment earnings trigger remains at £10,000 for tax year 2017/18.
A pensions advice allowance is being introduced which will allow pension scheme members and their beneficiaries to take a tax-free amount of £500 from their scheme to offset against the cost of obtaining financial advice relating to their retirement. The allowance can be taken once in any tax year and up to a maximum of three times in total.