Paragraph 19B Requirement to provide pay ratio informationF1 F2

(1)

This paragraph applies to a company—

(a)

in relation to its first financial year if the qualifying condition is met in that year;

(b)

in relation to a subsequent financial year—

(i)

if the qualifying condition is met in that year and was also met in relation to the preceding financial year,

(ii)

if—

(aa)

the qualifying condition is met in that year, and

(bb)

the paragraph applied to the company in the preceding financial year, or

(iii)

if—

(aa)

the qualifying condition was met in the preceding financial year, and

(bb)

the paragraph applied to the company in the preceding financial year.

(2)

The qualifying condition is met by a company in a year in which the average number of UK employees of the company is more than 250.

(3)

The average number of UK employees of the company is determined as follows—

(a)

find for each month in the financial year the number of UK employees in that month (whether employed throughout the month or not),

(b)

add together the monthly totals, and

(c)

divide by the number of months in the financial year.

(4)

Where the company is a parent company the average number of UK employees refers to the number of UK employees within the group.

Annotations

F1: Sch. 8 substituted (1.10.2013) by The Large and Medium-sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013 (S.I. 2013/1981), regs. 1, 3, Sch. (with reg. 4)
F2: Sch. 8 paras. 19A-19G inserted (with application in accordance with reg. 1(4) of the amending S.I.) by The Companies (Miscellaneous Reporting) Regulations 2018 (S.I. 2018/860), regs. 1(1), 17(b)

F2: Words in Sch. 8 heading omitted (11.5.2025 in relation to accounts and reports for a financial year of a company beginning on or after that date) by virtue of The Companies (Directors' Remuneration and Audit) (Amendment) Regulations 2025 (S.I. 2025/439), regs. 1(2), 2(3), 12(3)(a)