New National Minimum Wage rates (NMW)- 1st OCT 2012

NATIONAL MINIMUM WAGE RATES

The Government has accepted the independent Low Pay Commission’s ( LPC) recommendations for this years National Minimum Wage (NMW) rates

The following rates come into effect on 1st october 2012:

  • The adult rate will ncrease by 11p to £6.19 per hour
  • The rate for 18-20 year olds will remain at £4.98 an hour
  • The rate for 16-17 year olds will remain at £3.68 an hour
  • The rate for apprentices will increase by 5p to £2.65 per hour

For professional impartial  business advice and solutions contact Janette Whitney at Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk.

New Guidance – national minimum wage- 2011

National minimum wage

Minimum Wage

Guidance providing greater clarity for businesses who offer work experience, placements and internships has been published today, as announced in the Social Mobility Strategy in April.

The updated guidance from Business Link and DirectGov includes advice on the payment of the National Minimum Wage (NMW) for work experience staff and interns, and clarifies when someone is entitled to this payment. The guidance also includes a new worker checklist for employers and examples of case studies, which aims to make sure that those who are entitled to the NMW receive it.

Entitlement to the NMW does not depend on a job title but on whether the arrangement they have with an organisation makes them a worker for NMW purposes. Where an individual is a worker – and no exemption applies – then they must be paid at least the NMW

The full version of the guidance can be found here – www.businesslink.gov.uk/nmw

Anyone who feels they have had their National Minimum Wage rights abused is encouraged to contact the Pay and Work Rights helpline on 0800 917 2368 for free and confidential advice.

From 1st october 2011, new National Minimum Wage (NMW) rates will come into force. The NMW applies to nearly all workers in England, Scotland & Wales and sets hourly rates below which you must not allow pay to fall.

For pay reference periods beginning on or after 1st October 2011, you will have to pay all eligible workers the following:

  • £6.08 an hour to Adult workers aged 21 and above
  • £4.98 an hour to workers aged 18-20
  • £3.68 an hour to workers aged 16-17
  • £2.60 an hour to Apprentices

The daily accomodation offset.

You will be able to offset from the NMW an amount of £4.73 per day for each day that you provide a worker with living accomodation.

For professional & impartial Business advice contact Janette Whitney at Award Winning Business Consultants, Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk

 

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Increase in the national minimum wage- 2011

National minimum wage

Minimum Wage

 

From 1st october 2011, new National Minimum Wage (NMW) rates will come into force. The NMW applies to nearly all workers in England, Scotland & Wales and sets hourly rates below which you must not allow pay to fall.

For pay reference periods beginning on or after 1st October 2011, you will have to pay all eligible workers the following:

  • £6.08 an hour to Adult workers aged 21 and above
  • £4.98 an hour to workers aged 18-20
  • £3.68 an hour to workers aged 16-17
  • £2.60 an hour to Apprentices

The daily accomodation offset.

You will be able to offset from the NMW an amount of £4.73 per day for each day that you provide a worker with living accomodation.

What happens if workers are underpaid?

Employers who do not pay the correct minimum wage will be issued with an fine of up to max £5000. You will have to pay this even if the underpayment was a mistake !

The most serious cases could be subject to an unlimited fine.

HM Revenue & Customs (HMRC) are responsible for enforcing the law on the national minimum wage and they will follow up complaints from workers and other sources.

For professional & impartial Business advice contact Janette Whitney at Award Winning Business Consultants, Janette Whitney & Associates on 01403 733671 or email jw@whitneyassocs.co.uk

 

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‘Green’ Grants for Business

Green Thinking

 

There’s lots of government legislation in place to ensure that UK businesses meet the minimum standards required to minimize their impact on the environment.

 

 

 

How these regulations will affect you will depend on the size and type of your business, as well as the sector you operate in and the process you have in place.

For more detailed information on how these regulations might affect your business, visit the NetRegs website:  

What to do First

 If you’re not sure where to start with going green, then getting an environmental consultant to come in and spend some time with your business to understand where it can save energy is a worthwhile investment.

It can save you as much as 10% through no-cost measures and generally businesses can save over 20%.

Funding

The good news is that there are various grants and soft loans available to businesses to help you comply with these regulations

One such scheme recently announced is a £4 million loan fund to help South East based businesses improve their sustainability.

Backed with £3.8 million from the European Regional Development Fund, SEEDA’s new South East Sustainability Loan Fund is expected to support around 2,500 companies across the region.

They will be able to lend between £20,000 and £200,000 to reduce waste, develop sustainable technologies, and focus on sustainable procurement.

Participating firms will also undergo training and environmental audits “in order to establish methods that boost profits through energy reduction”.

 To help you to keep up to date with the many different grant schemes available to your business visit www.greengrantsmachine.co.uk.

Need help with funding for your business?

 

 Then please contact me at Janette Whitney & Associates on 01403 733671 for professional, impartial advice & Solutions.

 

     

Thought For The Day

 To the  HMRC:

A fine is a tax for doing wrong. A tax is a fine for doing well

Business plan re-think for RBS

We all know we should have a business plan to guide our business along the route which we want to take and which will deliver the returns that we /the owners need over the medium term – at least 3 years.

Obviously Royal Bank of Scotland’s Chief Executive Stephen Hester forgot  to take account of market forces and undertake a robust S.W.O.T analysis before finalising his Business strategy as he is having to re think his Business plan for RBS only 8mths after it was formulated!

– But then this has been one of the problems which helped cause the Banking crisis – short term thinking and quick gains rather than looking at the longer term with prudent planning.

This article from the Guardian Newspaper  says it all.

What do you think as a small business, especially if you are trying to raise finance  for business development?  Comments please.

 

Contact me at Janette whitney & Associates, Business Consultants for professional  impartial  advice & solutions.

 

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Get the blood flowing!!

How many times have you sat at your desk and stared blankly at your computer screen- totally uninspired?

Well, us humans need to be more active than we are in todays lifestyles as I am sure you appreciate,Sitting down all day at a desk does nothing for our ability to be focussed on our jobs or motivation to be fantastic. We need to exercise- so take a break when you have read this and walk around a little.

When you sit back at your desk you will feel better and you will be more motivated towards your work. Movement gets the blood pumping around the body and therefore more oxygen to the brain. Try it.- it works.

So if you want inspired Business advice  or business growth strategies covering sales, marketing, finance, business development and more,  you have come to the right place. 

Contact us now for a free initial consultation on 01403 733671

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