
The Academies Financial Handbook is updated annually by the Department for Education and the Education and Skills Funding Agency; it contains a number of governance requirements for academy trusts.
We highlight the key changes that you should look out for below, along with links to our recent ebriefings relating to these changes.
Increases to National Minimum Wage
The National Minimum Wage and the National Living Wage will increase from 1 April 2017 as follows:
25 and over | 21 to 24 | 18 to 20 | Under 18 | Apprentice |
£7.50 | £7.05 | £5.60 | £4.05 |
£3.50 |
General Data Protection Regulation
Although the EU General Data Protection Regulation (GDPR) will not come into force until May 2018, the scope of the changes means that preparing for the GDPR will be high priority for employers in 2017.
Gender pay gap reporting
Private, voluntary and public-sector organisations, with 250 employees or more,will be required to publish gender pay gap information for the first time by no later than April 2018.
Trade union balloting changes
Certain provisions of the Trade Union Act 2016 are now in force, but there are some important changes that employers might have missed.
Apprenticeship levy
Employers with an annual payroll of more than £3 million will be required to pay a 0.5% levy on their total pay bill starting on 6 April 2017.
Salary-sacrifice schemes
Employers may need to reconsider their benefit offerings, as tax savings through many salary-sacrifice schemes will be abolished from 6 April 2017.
For further information
If you require support regarding employment changes in 2017 please contact Anna Dabek.
The Academies Financial Handbook is updated annually by the Department for Education and the Education and Skills Funding Agency; it contains a number of governance requirements for academy trusts.
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