Frettens resident Chartered Tax Advisor, Lee Young, is one of a few solicitors in Dorset to be dual qualified as a Solicitor and Chartered Tax Advisor. In this article, he provides a summary of the budget tax implications.
Do we need to report our gender pay gap?
The Government Equalities Office has told the Treasury Select Committee that it is planning to extend the gender pay gap reporting obligations.
The gender pay gap refers to the fact that average pay for men is greater than average pay for women. Since 2017, companies with 250 or more employees must publish their gender pay gap figures.
Widening gender pay gap
Statistics published earlier this year show that the gender pay gap is widening to men's advantage. The latest proposals follow suggestions from the TUC that companies need to find active ways to reduce the gender pay gap rather than seeing the process of reporting as a compliance exercise.
Various proposals are in play, including lowering the number of employees trigger point so that smaller companies must report on their gender pay gap. There is also a suggestion that greater enforcement powers might be introduced.
Public consultation on gender pay gap reporting
Smaller businesses will not welcome the extra administrative burden with tighter budgets and fewer resources than their larger counterparts. All proposed changes will be put out to public consultation.
Chris Dobbs, Employment Solicitor says “Be sure to keep checking gov.uk for notifications about the public consultation, so you can have your say.”
At Frettens, all of our solicitors offer a free initial meeting or chat on the phone to answer your questions. If this article raises issues for you or your business, please call us on 01202 499255 and the Employment team will be happy to discuss it with you.
