Three bills introducing additional paid leave for parents whose babies require neonatal care, the expansion of redundancy protections, and carer’s leave received Royal Assent on 24 May 2023. While the carer’s leave and the expanded redundancy protection provisions entered into effect on 6 April 2024, the neonatal leave is expected to come into force in April 2025.
To reduce the tax complexity faced by individuals whose registered pension savings or life insurance benefits reached the Lifetime Allowance (LTA), the United Kingdom has eliminated the LTA and introduced two other allowances with more favorable tax treatment for those who exceed them. The Finance (No.2) Act 2023 removed the Lifetime Allowance charge with effect from 6 April 2023, and the subsequent Finance Act 2024 removed the Lifetime Allowance in its entirety but introduced the Lump Sum and Death Benefit Allowance (LSDBA) and the Lump Sum Allowance (LSA).
New flexible working rules have been implemented in the UK from 6 April 2024. The changes aim to enhance work life balance and foster a more flexible working environment.
The UK government has published draft regulations to implement the Carer’s Leave Act 2023 (the “Act”) providing employees with one week of unpaid carer’s leave per year to arrange or provide care for a dependent.
While the Act entered into force on 4 December 2023, the Draft Regulations implementing unpaid carer’s leave are expected to be effective from 6 April 2024.
The British government recently announced an increase of 9.8% from the current rate of the national living wage for workers age 21 and above (previously age 23), as well as the national minimum wage for workers age 20 and below (at least at school age). This substantial increase is intended to support the lowest earners in the United Kingdom and will be effective on 1 April 2024.
The UK government recently published new regulations clarifying annual leave carry over and calculation rules for all workers and codifying calculation rules for part-year/ irregular hour workers’ annual leave entitlements.
Employment Rights (Amendment, Revocation and Transitional Provision) Regulations 2023 will enter into effect on 1 January 2024, with some provisions becoming effective at a later date.
Three bills proposing additional, paid leave for parents whose babies require neonatal care, expansion of redundancy protections, and Carer’s leave received Royal Assent on 24 May 2023.
The UK government recently announced changes in pensions, childcare, universal support scheme, and employee share plans, among others, as part of the Spring Budget 2023 to remove obstacles to participation in the workforce.
The UK government is increasing the rates of statutory pay for family leave (effective 2 April 2023) and sick pay (effective 6 April 2023).
The UK government recently announced an additional one-off public holiday on Monday, 8 May 2023, to mark the Coronation of His Majesty King Charles III, which will occur on Saturday, 6 May 2023.