The new Gender Pay Gap Reporting Regulations require employers in the U.K. to report on the pay gap between men and women in their organisation with the aim of reducing the gender pay gap in the U.K. workforce. The Regulations seek to address the U.K’s gender pay gap which is above the OECD average and is the 21st largest out of the 33 OECD countries.

The Regulations apply to all employers of more than 250 “employees” in the U.K. On 5 April each year all U.K. employers, including international companies with operating entities in the U.K., must publish figures to show the pay gap between male and female hourly pay on a mean and a median basis, the pay gap between male and female bonus awards on a mean and median basis, and the proportion of men and women receiving such pay and bonuses. The figures must be published annually, with the first reports to be produced on or before 4 April 2018 based on a “snapshot date” of 5 April 2017.