GDPR – How it affects PAYE/CIS
You may or may not have heard of the GDPR (General Data Protection Regulation). GDPR is the legal framework that sets the guidelines for how personal data is handled. As of 25/05/2018 GDPR is in effect in the U.K. and carries a maximum fine of 4% of annual turnover or €10,000,000, whichever is largest.
How does it affect employers?
If you’re employing anyone you are automatically subject to GDPR laws – you must do your due diligence to protect the information of your employees, sensitive information includes:
Name & address
National insurance number
Banking information
Pay history (which you must keep for two years)
Any other identifiable information
What can I do?
Larger companies may employ a C.T.O (Chief Technology Operator) to ensure sensitive data is always protected, but for smaller companies (or large companies that don’t want to hire or promote) the cost of securing data can be high. At Avalon Payroll we are committed to data security and disagree with the nature of data sharing.
We can store your data safely and securely should you wish to relinquish the responsibility. You can view our data policy here