Brexit – How will it affect your payroll?
The Chartered Institute of Payroll Professionals has indicated that they are not yet aware of any direct changes to payroll regulations caused by the UK’s decision to leave the EU. The truth is that we do not yet know what impact this will have on payroll regulations. The payroll industry is continually bombarded with changes of legislation affecting employers in the UK and it is our job to ensure all our clients and the employers we act for are fully compliant at all times. Many employment regulations originate from the EU but also have UK influences. For example, the EU introduced the right to employees paid holiday leave. The EU legislation states that employees should have 20 days paid holiday. UK regulation actually grants workers a higher entitlement of 28 days! Whatever the future holds Bells Payroll Services will ensure that employers are fully aware of any changes that may affect them or their employees.