Goverment ‘cuts red tape’ for thousands of businesses
1 January 2023
This article was first published on the Batchelor’s Solicitors website prior to its merger with Birketts.
Reporting requirements for businesses with fewer than 500 employees have been removed by the government.
As of 3 October 2022, tens of thousands of businesses are exempt from reporting on their pay gap statistics relating to gender, executive pay and ethnicity.
The changed threshold will apply to all new regulations under development as well as those under current and future review, including retained EU laws.
The government says it is also looking at plans to consult in the future on potentially extending the threshold to businesses with 1,000 employees, once the impact of the current exemption is known.
Further information can be found at https://www.gov.uk/government/news/red-tape-cut-for-thousands-of-growing-businesses.
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at January 2023.