HR Calendar: Important dates in March & April 2024
The beginning of a new year is always busy, regardless of the team or industry you are in. However, the HR calendar is particularly busy, because of the imminent arrival of the New Tax Year.
At The Electric Car Scheme, we want to support HR professionals with a straightforward guide to the upcoming months, concentrating on pivotal dates that hold significance not only for your role but also for fostering employee wellbeing. We have also outlined our recent activities over the past couple of months, spanning from HR events to mental health training sessions - perhaps to give you some inspiration for initiatives to use in your workplace.
Key dates in the HR Calendar - March & April 2024
We know April is always a busy month for those working in HR. Here are some of the key dates coming up in the next month:
8th March 2024 - International Women’s Day
29th March - 1st April 2024 - Good Friday and Easter Weekend
1st April 2024 - Holiday Pay Reforms come into force, additional free hours of childcare available for parents, and National living wage and minimum wage rise take effect.
6th April 2024 - Start of the New Tax Year.
What are the Holiday Pay Reforms?
In November 2023 the government announced changes to the current rules surrounding holiday pay. The changes will take effect from 1st April 2024 and they include:
Re-introducing 12.07% of hours worked calculation for irregular hours and part-year workers
This entails the introduction of a new holiday entitlement system, wherein holidays will accrue based on 12.07% of the hours worked by the individual in the preceding pay period.
Re-introducing rolled-up holiday pay for irregular hours and part-year workers
Employers also have the option to implement rolled-up holiday pay, allowing them to pay holiday compensation as a 12.07% uplift to the normal rate of pay at the time the work is done, rather than at the time the holiday is taken. This adjustment is designed to simplify the calculation of holiday entitlement, particularly for individuals with irregular working hours or those who work part of the year.
Changes to the definition of a week’s pay for holiday pay calculations
Holiday pay should not be calculated solely on basic pay but should encompass the worker's regular pay. In the past, there have been various cases questioning whether additional payments such as overtime, commission, and bonuses should be factored into holiday pay calculations. Consequently, holiday pay should now incorporate the following:
Commission payments which are linked to the performance of tasks which the worker was obliged to carry out under their contract,
Payments of professional or personal status relating to the length of service, seniority or professional qualifications,
Payments like overtime payments which have been regularly paid to a worker in the 52 weeks preceding the calculation date.
The right to carry over holiday pay
If an employer neglects to provide employees with a reasonable chance to take leave or fails to actively encourage them to do so, does not inform the worker that failing to take leave will result in its forfeiture, or denies the worker's employment status, the employee is entitled to carry over 4 weeks of holiday per year. This necessitates employers to evaluate the status of all individuals employed within the company and ensure the existence of systems and documentation to effectively communicate the right to take holidays throughout the year.
What are additional hours of free hours of childcare available for parents?
In the Spring Budget 2023, the Chancellor announced an expansion of free childcare access for more parents.
Starting from April 2024, working parents or carers of children aged three to four in England are entitled to 30 hours of free childcare per week. To qualify, the childcare provider must be approved, and the support ceases when the child begins reception class. Eligibility factors include your employment status, income, your child’s age, and circumstances like immigration status.
All parents of three to four-year-olds can avail themselves of 15 hours of free childcare weekly, regardless of their working hours or income. Before April 2024, only parents of two-year-olds meeting specific criteria, such as receiving income support benefits and earning less than £15,400 a year, could access 15 hours of free childcare per week.
As well as this, April sees the introduction of free hours for two-year-olds. Working parents can access 15 hours of free childcare per week.
The government is gradually introducing free childcare to accommodate more families' needs. Key milestones include:
September 2024: Extending 15 hours of free childcare to all children from 9 months.
September 2025: Working parents of children under the age of five will be entitled to 30 hours of free childcare per week.
National Living Wage and Minimum Wage Rises
The National Living Wage originally applied to people ages 25 and over. This reduced to 23 in 2021 and now, in 2024 this is reducing further to 21. There will be increases in hourly rates from 1st April 2024 - these are as follows:
The National Living Wage (NLW) for individuals aged 21 and over will see a notable increase of £1.02 (equivalent to 9.8%), rising from £10.42 to £11.44 per hour.
Those aged 18-20 will experience a significant £1.11 uptick (representing 14.8%), moving from £7.49 to £8.60 per hour.
The NMW for individuals aged 16-17 and apprentices will witness a substantial £1.12 increase (a percentage rise of 21.2%), moving from £5.28 to £6.40 per hour.
The 1st of April doesn’t have the same impact as the 1st of January, but it does signify a fresh start for HR, Finance and Payroll. Here are some of the main things you should be aware of as the New Tax Year approaches:
What does the New Tax Year mean for those working in HR?
The 1st of April doesn’t have the same impact as the 1st of January, but it does signify a fresh start for HR, Finance and Payroll. Here are some of the main things you should be aware of as the New Tax Year approaches:
Pay Gap Reporting
Starting in 2017, companies with a headcount of 250 or more are mandated to disclose their gender pay gap information, accompanied by a written statement within the subsequent year. Additionally, businesses are encouraged to furnish supplementary details elucidating the reasons behind any pay disparities and present an action plan outlining their proposed measures to rectify these issues in the coming year, or provide clarification if there are specific reasons for the observed differences.
P11D Reporting
A P11D is a form HMRC needs from employers every year for every staff member who receives taxable benefits or expenses, such as company cars or interest-free loans. Employers must submit a P11D form for each relevant employee annually. The form outlines the specific benefits received and their respective cash equivalent value, which is used to calculate the individual’s tax liability on these benefits. The layout typically includes sections for personal details, various benefit categories and their corresponding values.
At The Electric Car Scheme, after you enrol your business in the scheme, we annually furnish draft pre-filled P11D forms for your submission to HMRC. These forms are completed for the tax year’s conclusion, incorporating Benefit in Kind (BiK) details in both the employee’s and company’s P11D submissions. This reduces the burden of form preparation and submission for employers. Employees also benefit from a hassle-free process, minimising their involvement in filling out complex tax forms.
You can learn more about P11Ds by reading our dedicated blog here.
Payroll and year-end
The payroll year-end signifies the period when preparations are made for the distribution of P60s to employees. The deadline for releasing these documents to employees is the end of May, though numerous employers opt to do so earlier, especially once any adjustments from the previous year have been calculated.
While many payroll solutions and integrated HR and payroll systems are automatically updated with the latest year's rates and legislation, it is crucial to verify your solutions. This includes checking for any manual rate tables you may have created to ensure they accurately reflect changes in the minimum wage.
Impact reporting
Impact reporting also typically takes place at the beginning of a new tax year. An impact report is important because it details an organisation’s societal and environmental contributions. It captures the initiatives that drive positive change, measuring broader outcomes beyond just financial performance. Impact reporting is valuable for building trust, improving stakeholder engagement and building strategies for improvement.
The Electric Car Scheme provides companies with an annual impact report to show how the adoption of electric cars has affected your carbon dioxide savings and the total committed mileage. We look at the following metrics to determine your impact:
Number of employees,
Percentage of employees who have looked at car quotes
Cars ordered,
Cars delivered,
Total committed mileage,
Kg Carbon Dioxide Equivalent (CO2e) savings,
Kg Scope 3 Carbon Dioxide Equivalent (CO2e) reduction.
Rundown of February at The Electric Car Scheme
February was a busy month at The Electric Car Scheme, marked by a significant milestone as we proudly announced our B-Corp certification! Additionally, we participated in the HR Summit in Manchester, engaging with HR professionals from an array of businesses and we also spoke about our mental health on Time to Talk Day.
The Electric Car Scheme team attended the HR Summit in Manchester
We attended The HR Summit on the 7th of February 2024 at the Radisson Blu in Manchester, making it our first event of the year. Matt Crook and Cameron Dillon-Godfray from our Business Development team attended. They had one-on-one meetings with various HR professionals, similar to a speed-dating setup!
Over 50 key decision-makers were present at the event, making it a fantastic opportunity to speak with those interested in The Electric Car Scheme as an employee benefit. Salary sacrifice for electric cars is a trending topic at the moment, with more businesses aiming to enhance their staff benefits. A salary sacrifice EV is considered the ‘ultimate benefit’ and therefore there is an emphasis on selecting the right provider. Cameron found that companies were particularly interested in their risk and liability when offering this benefit, And therefore spoke a lot about our Complete Risk Protection and how we ensure employers have coverage from day one.
A common misconception brought up was that implementing the scheme incurs setup costs and requires budgeting. This is not the case with The Electric Car Scheme, as there is no net cost to your business to run the scheme. Instead, our fee aligns with your employees' tax savings.
Blue Monday (15th January) and Time to Talk Day (1st February)
Important days in the work well-being calendar are Blue Monday and Time to Talk Day. These are both initiatives early in the year that encourage people to ask, talk, and listen to one another.
Typically, the third Monday of every January is ‘Blue Monday’” known as the most depressing day of the and year. This is often because the festivities of Christmas and New Year’s have come to an end. Interestingly, Blue Monday was created by a travel company in 2005 in an attempt to sell more holidays. The 2005 release claimed Blue Monday was calculated by taking various factors into account, including debt levels, temperatures, days until the next bank holiday, the number of days since payday, and average hours of daylight. Blue Monday serves as a reminder in the workplace to check in with one another, recognise good work, and encourage employees to look after themselves.
Time to Talk Day follows a similar concept and falls on the 1st of February every year. It is the nation’s biggest mental health conversation, happening annually with the aim that more conversations lead to a better life for everyone. Discussing mental health is not always easy, and sometimes it is harder to express how you truly feel. However, Time To Talk Day provides the opportunity to speak with those around you.
Last month, we held two mental health-related sessions, one about burnout and the other about mental health more generally. The latter focused on looking after mental health with our mental health first aiders, who signposted where employees should go if they’re struggling. We also had a session about burnout where employees shared their previous experiences and discussed ways to notice the signs of burnout. It was a safe space to ask questions and share experiences, and we also explored ways to prevent burnout.
Learn more about our B Corp Certification
Upcoming events at The Electric Car Scheme
28th-30th March:
We will be attending Everything Electric! This three-day event takes place from 28th-30th March at The ExCel in London. If you are attending, you will find an array of visitor attractions, live sessions, and an exhibition of hundreds of companies. It includes electric vehicles as well as a huge selection of home energy options.
You can learn more about Everything Electric by visiting the following website.
If you are looking for an employee benefit to boost employee engagement and retention, you may have considered an electric car salary sacrifice scheme. The Electric Car Scheme can save your employees between 30 and 60% off a brand-new EV and at no net cost to your company (our fee is the equivalent of your employee's tax savings). You can learn more about how it works for companies by visiting our website.
