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Minimum wages have
increased
DID you know that since 1 October
2015, the National Minimum Wage has yet again been increased? If you are not
aware, this annual increase of Minimum Wage takes place every October and
doesn't relate to the size of the business, sector, job or region. All
businesses not paying it, will face court action by HM Revenue and Customs (HMRC).
There are however a number of exemptions to those who receive the rise, but
only in a few cases. The current National Minimum Wage rates from 1 October
2015 are:-
£6.70 for workers 21yrs and over.
£5.30 18yrs to 20yrs.
£3.87 for 16yrs to 17yrs, who are above school leaving age, but under 18yrs.
£3.30 for apprentices under 19yrs or 19yrs or over, who are in the 1st year
of apprenticeship.
It is important to note that these rates, which came into force 1 October
2015, apply to pay reference periods beginning on or after that date.
Prior to 1 October 2015, the National Minimum Wage rates were:-
£6.50 for workers 21yrs and over.
£5.13 18yrs to 20yrs.
£3.79 for 16yrs to 17yrs, who are above school leaving age but, under 18yrs.
£2.73 for apprentices under 19yrs or 19yrs or over who are in the 1st year
of apprenticeship.
You can find out if you're paying the right amount with our
free calculator.
Also, did you know that Pay is just 1 element of a work contract that
employers need to understand? As from next year all businesses will have to
have a Workplace Pension schemes in place.. Plus, from April 2016, a new
National Living Wage of £7.20 an hour is due to be introduced for working
people aged 25 and over!
To date ACAS (Advisory, Conciliation and Arbitration Service) has said that
many employment tribunal claims arise from poorly drawn up contracts. For
small businesses this tends to be one of the biggest problems. For example,
did you know that a contract can now begin as soon a verbal offer of a job
is accepted? Or that Terms and Conditions of Employment (written statements)
must be given to an employee within 2 months of starting? For many small
businesses, this can be a worrying times as they struggle with ever
increasing costs and legal requirements, so what are your views on this? Do
you think more help should be given to small businesses? Do you think large
businesses should be paying more than small firms or should they pay the
same? Please email your views to our newsroom via:-
news24@southportreporter.com on this very controversial topic.
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