Planning for the financial year end

It might seem a long way off yet, but trust us, the financial end of the year will be here before you know it (April 5). 

Unfortunately there’s no celebration when the clock strikes midnight with this new year, it’s all HR processes and legislation processes for business owners, but it needn’t be stressful. With some organisation, it can be straightforward.

As a business owner/line manager, what actions should you be taking at the end of the financial year?

Review annual leave 

Now is a good time to consider whether your holiday records are accurate and up-to-date. If your holiday year runs from April to March, you need to make sure all staff have taken their holiday (if you don’t allow carry over days).

If your holiday year runs January to December, now is a good time to remind staff to try and spread their holidays throughout the year to ensure they get the opportunity to recharge their batteries. 

Update staff records

Carry out a ‘mini audit’ and review:

• Current addresses and contact details – and remind your staff it is their responsibility to let you know if this changes

• Employment status (full-time, part-time, contractor)

• Right to work checks – remember, it’s a hefty fine if you don’t have these

• Contracts, pay rates, and working hours.

Statutory payments

Make sure your payroll department is aware of the government’s new rates coming into effect on 6th April.

Employment law changes

Many of you will have seen the news in December that the Employment Rights Bill received Royal Assent and is now officially the Employment Rights Act 2025. This Act is set to give the biggest shake up in employment law in decades and all employers, regardless of size, will need to make changes. Some of these changes are due to take effect in April.

If you need support navigating your way through what this legislation means and what changes you need to make in your HR policies/procedures, please do get in touch as we would love to help.