New National Minimum Wage Starts Tomorrow

Ray Stewart Bookkeeping, Tax Matters Leave a Comment

A timely reminder…Don’t forget that the new minimum hourly wage rates apply from tomorrow – 1st October 2009.  This is something that seems to slip by business owners without them realizing each year.  

For reference the new hourly rates that apply for pay reference periods starting on or after 1st October 2009 are as follows:-

[private_basic]Main rate for workers aged 22 and over  £5.80

Rate for workers aged 18-21  £4.83

Rate for workers aged 16-17 and over compulsory school age  £3.57

Accommodation offset rate (Weekly maximum)  £31.57

Accommodation offset rate – Daily  £4.51

There are some more changes coming next October (2010) as the government are set to reduce the age for the main rate down to 21 year-olds.  Employers are also being reminded by the Tax Office that they should be filing all their employee paperwork on-line.  Most of us have been doing this for some years now taking advantage of the tax free bounty offered for on-line filing of the year end P35 forms but the honeymoon will soon be over.  As from 6th April 2010 all employee forms, for starters, finishers, as well as the P35 and P14 end of year forms should all be filed on-line.

If you are having problems with this and would like us to take over your payroll to ensure you do not fall foul of the new penalty regime which also starts 6th April 2010, please ring me for a free, no-obligation chat about how we can run your payroll remotely and efficiently on 0800 047 0731.

I look forward to hearing from you.

~Ray[/private_basic]

Ray Stewart
I am a qualified Certified Practising Accountant having passed my final exams way back in 1981. I actually can’t believe that was 37 years ago!! Anyway, I am now in my 60’s and I have been running my own business since May 1983. And before you ask, no, I have never regretted a moment of it! Part of the membership requirements of my professional body now dictate that I spend quite a lot of time on “CPD” - continuing professional education (one of their better ideas) - and over the last two years I decided to study business growth and marketing. I have learnt such a lot and that knowledge has radically changed my old “accountants” approach to business. It has made such a difference to the way I work and operate I feel that I just have to pass on this knowledge. It is simply too powerful to hold back!! - but I will try and do it in simple terms rather than expecting you to spend hours, as I had to, working through the difficult language that trainers seem to use to pass on their concepts. I hope you find the blog a useful resource and interesting place to visit as the months pass. I will do my best to keep up the flow - but if there are any topics you would like me to cover, then please let me know. Ray Stewart
Ray Stewart
Ray Stewart

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