On 5 December 2012, the Chancellor delivered his Autumn Statement. The Statement, together with other linked official Government statements, contains a number of measures impacting on employment.
The 2012 Autumn Statement, together with the Autumn Statement policy decisions document and the HM Treasury, Autumn Statement policy decisions update include a number of measures which will impact on employment as follows:
•Measures to implement the Nuttall review on employee ownership.
•New legislation to introduce a new employee shareholder status and new details of possible measures to reduce and define income tax and NICs liabilities arising on acquisition of shares by employee shareholders (see below for Government response to consultation).
•Confirmation that the Government will shortly launch a consultation on TUPE including proposals to “remove necessary burdens on business” (paragraph 2.141, Autumn Statement policy decisions).
•Statutory sick pay, statutory maternity pay, statutory paternity pay and statutory adoption pay to be increased by 1% a year for three years from April 2013 (HM Treasury, Autumn Statement policy decisions, plus see below for next year’s figures).
•Various small changes to income tax. In particular, the Government will ask the Office of Tax Simplification to carry out a review of ways to simplify the taxation of employee benefits and expenses and termination payments.
This provides summary information and comment on the subject areas covered. Where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented and the judgments made in every aspect of the case. Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, we cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.
