Changes to the way employers issue payslips will also come into force on 6th April 2019 as from this date onwards the legal right to a payslip will be extended to include those who are recognised as ‘workers’. Employers will also be obliged to include the total number of hours worked on payslips for employees whose wages vary depending on how much time they have worked. It is important that employers work with their payroll departments to ensure the correct procedure is in place ahead of April’s deadline.
Executive Pay Ratio Reporting
From this date, regulations made under the Companies Act 2006 require UK listed companies with more than 250 UK employees to report annually on the pay gap between their chief executive and their average UK worker.