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Gender Pay Gap Reporting

As you may have seen across the news, currently the gender pay gap is a very popular topic affecting a number of industries in the world. From Hollywood to Hartlebury, women in business are making their mark in their industries more than ever before.

You are likely to have read about how A-list stars like Reese Witherspoon are taking on Hollywood and currently making waves in the film industry with strong statements such as ‘We have to do our part to change the idea that a woman with passion and ambition is out only for herself’. Gender equality is a key topic and it seems that upcoming legislation is evolving to meet changing expectations within the workplace.

Gender pay gap reporting is one of the many steps towards equality in the work place and has been introduced to ensure there is no significant cumulative impact on a woman’s earning potential during her working life time. It is also aimed to give more transparency about gender pay difference, thus increasing the chances of action taking place. Gender pay gap reporting will be enforced from April 2018, making it compulsory for businesses with 250 employees or more to publish their gender pay gap figures to both their own public-facing company website and to the government online.

Organisations must publish their median and mean gender pay gap figures and the proportion of men and women in each quartile of the pay structure. Pay gap reporting must also include basic pay, allowances, paid leave, bonus pay and pay for piecework.

So how does this affect your company? You may be worried that this regulation may affect recruitment and company credibility, however companies are able to determine how they would like to publish their reporting – some may choose to publish a statement, authorised by an appropriate senior within the organisation.

If you work in a finance department, you’re likely to be considering how your business will gather the gender pay gap information most efficiently from your payroll system. Some systems may have specific reporting tools to enable you to find the information you need. Pegasus Opera 3 Payroll contains an extensive range of reports including End-of-Year reports, departmental reporting and much more. Pegasus now have new reporting available to allow you to access your payroll data, analyse the data and produce the relevant reports easily to assist with the compulsory gender pay gap reporting.  The Opera 3 payroll reporting tool also allows you to print reports and export the data in to Excel for additional data manipulation.

The gender pay gap ‘Snapshot Date’ is the date that employers must gather the information from in order to report their gender pay gap. This date is March 31st for public authorities and April 5th for all other employers. To be prepared, businesses should review the reliability of their payroll system and start to collate this information on the correct dates to begin preparing a report, in which they can write a statement on their findings.

For more information on accounting and payroll systems, contact Minster on 01562 68211 or email sales@minstermicro.co.uk.

GDPR Preparation Guide

With the new GDPR laws coming into place in May 2018, it is important you prepare your business for the changes you might face.

For more information please call Minster on 01562 68211 or email marketingteam@minstermicro.co.uk

Important information regarding the Payroll Upgrade 2013

The Payroll Upgrade 2013 will incorporate the necessary legislative changes to complete the 2012/2013 Tax Year and process from 6 April 2013 onwards. The advance information also covers those changes that are being introduced in April 2013.

Statutory Changes for April 2013

Real-Time Information (RTI)
Full Payment Submission (FPS) to HMRC (Payroll Upgrade)RTI means that employers and pension providers will now need to inform HMRC about PAYE payments at the time they are made as part of their payroll process. Payroll software will collect the necessary information and send it to HMRC Online. Employers will submit information about PAYE payments throughout the year as part of their payroll process, rather than at the end of the year as it is currently done.

Employers will gradually be phased in to RTI with medium to smaller employers joining RTI from April 2013. Larger employers (5,000 or more employees) will be moved on to RTI at various stages during June to September 2013. By October 2013 it will become mandatory and all employers will be using RTI.

Under RTI, the employer will no longer produce and submit P14s and the P35 summary to HMRC. However, the employer will still have to provide their employees with a P60 at the end of the year. For further details please visit http://www.minstermicro.co.uk/software-pegasus-rti.php.

PAYE Changes PAYE rate and bandwidth changes will apply from 6 April 2013. For example, the ‘50%’ rate is to be reduced to 45%. Also, there will be changes to personal tax allowances from 6 April 2013.

Student Loan Threshold The annual student loan threshold will increase from £15,795 to £16,365 from 6 April 2013.

NI Thresholds There will be changes to the thresholds for NI from 6 April 2013. Contribution % rates remain unchanged.

Statutory Payment Rates All statutory payment rates will be uplifted from 6 April 2013.

Auto Enrolment Thresholds Subject to confirmation from the Department of Work and Pensions, there are expected to be changes to the Auto Enrolment thresholds from 6 April 2013.

Earnings Arrestments Changes Subject to confirmation from the Scottish Courts, the various earnings bands used in the calculation of Earnings Arrestments (a type of Scottish Court Order) are expected to change from 6 April 2013.

Online Filing Manager Changes Online Filing Manager will be updated to permit online EOY submissions for the 2012/2013 tax year, and RTI submissions from 2013/14 onwards.

Non Statutory Changes for April 2013

P60 Stationery Designs Unsupported P60 stationery designs will be removed from the Opera 3 and Opera II Returns user interface.

Events

Minster – Pegasus & GDPR Event

GDPR is right around the corner and, as part of our on-going support, we want to help our customers to be as compliant as possible by the GDPR deadline date 25th May 2018

On Tuesday 16th January 2018, Minster have put together a GDPR seminar with Pegasus.

It will include legislative updates and important information about how you can get the most out of your Pegasus system to prepare for the big changes that will affect your business. 

Places to the event are very limited so, if you wish to attend, register your place here.