Statements under the Modern Slavery
Act 2015
Since the October 2015 edition of "Work, rest and pay", section 54 of the Modern Slavery Act 2015 came into force on 29 October 2015. The Government has also issued guidance on the implementation of the new law. Key points emerging from that guidance include:
- 31 March 2016 year-end companies will be the first organisations to
have to comply with the legislation.
- Organisations are expected to publish their statements as soon as
reasonably practicable after the end of each financial year, and
are encouraged to do so within six months of the end of the
financial year.
- Each company within a corporate group structure that meets the
eligibility criteria will be required to comply with the
legislation separately.
- Where a parent company and one or more subsidiary companies in the
same group are required to produce a statement, the parent company
may prepare a statement on behalf of itself and those subsidiaries,
provided that the statement covers the steps taken by each
individual entity.
For further information regarding section 54 of the Modern Slavery
Act 2015, please see our client briefing.
Apprenticeship levy
Confirming the announcement made in the Summer Budget, an
apprenticeship levy will be introduced in April 2017. Details of
the levy are as follows:
- It will be at a rate of 0.5 per cent of an employer's pay bill,
i.e. total employee earnings in respect of all employees excluding
payments such as benefits in kind.
- Employers will receive an allowance of £15,000 to offset against
their levy payment, meaning that the levy will only be payable by
employers with a pay bill in excess of £3m per year.
- The levy will be paid through PAYE.
- The Government will also establish a new employer-led body
responsible for setting apprenticeship standards which will also
advise on the level of levy funding for which apprenticeships will
be eligible.
Please click on the links below for the other articles in
the January 2016 edition of Work, rest and pay:
