• From 1 February 2010, the cap on the unfair dismissal compensatory award will decrease from £66,200 to £65,300. Following a one-off increase in October 2009, the cap on weekly pay (used to calculate the unfair dismissal basic award) will remain at £380 until February 2011. The statutory order detailing the changes is available here.
  • Acas's revisedCode of Practice on time off for trade union duties and activities came into effect on 1 January 2010. The Code includes guidance on time off for union learning representatives and is accompanied by two non-statutory guides on managing time off for union representatives and non-union employee representatives.
  • The Chancellor delivered his Pre-Budget Report on 9 December, reviewed in the Herbert Smith Tax Briefing. This included a bank payroll tax, the proposed scope of which has since been modified as set out in our Tax ebulletin.
  • From April 2010 the weekly rate of statutory maternity/paternity/adoption pay will increase from £123.06 to £124.88, with the earnings threshold increased from £95 to £97 a week. The weekly rate of statutory sick pay will remain at £79.15.
  • The Government has dropped its plan to remove tax relief on childcare vouchers for new members from 2011; instead, new entrants to the scheme from 2011 will only get tax relief at the basic rate of 20%.
  • The FSA has decided not to extend its code on remuneration policies beyond the largest financial institutions to all FSA-authorised firms, but will review the position in mid-2010 – see the Herbert Smith Employee Incentives ebulletin.
  • Our Corporate ebulletin covers (i) proposed amendments to AIM rules to include more detailed disclosure of directors' remuneration and (ii) minor amendments to the ABI guidelines on executive remuneration.