Author Archives: Anna Cummings

Comments Off on New GDPR Advice Service Aimed At Small Organisations

New GDPR Advice Service Aimed At Small Organisations

New GDPR Advice Service Aimed At Small Organisations

The Information Commissioner’s Office (ICO) launched on Wednesday 1 November at 10am to help small organisations prepare for a new data protection law.The phone service is aimed at people running small businesses or charities and recognises the particular problems they face getting ready for the new law, called the General Data Protection Regulation (GDPR). The GDPR replaces … Continued

Comments Off on UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

Liverpool accountancy firm boss Peter Taaffe says the Bank of England’s quarter point rise to 0.5% will impact on both small businesses and homeowners. Tony McDonough reports Bank of England policymakers have raised the UK interest rate for the first time in a decade – pushing up the rate from 0.25% to 0.5%. The bank’s … Continued

Comments Off on Personal Credit Card Payments to HMRC Will Stop in January

Personal Credit Card Payments to HMRC Will Stop in January

Personal Credit Card Payments to HMRC Will Stop in January

HMRC have advised that from 13 January 2018, they will no longer be accepting payments from personal credit cards. HMRC have accepted credit card payments from individuals, but from 13 January 2018, this method of payment will no longer be available. HMRC’s hand has been forced due to a change in EU law, which prohibits … Continued

Comments Off on Apprenticeship Levy Leaves Firms Baffled

Apprenticeship Levy Leaves Firms Baffled

Apprenticeship Levy Leaves Firms Baffled

Almost a quarter (23%) of businesses paying the apprenticeship levy has no understanding of how it works – six months after its introduction. 56% of more than 1,400 firms surveyed by the British Chambers of Commerce (BCC) did not expect to recover their payment, despite receiving an annual allowance to offset against the bill. As … Continued

Comments Off on Late Payments Continue To Hit SMEs

Late Payments Continue To Hit SMEs

Late Payments Continue To Hit SMEs

Two-thirds (66%) of small businesses are feeling the effects of clients who fail to pay their bills on time, research shows. Banking group Close Brothers polled 900 small business owners and found the problem was particularly serious for 87% of SMEs in Northern Ireland, 73% in London and 72% in the South West. Late payments … Continued

Comments Off on Cautious Businesses Delaying Investment

Cautious Businesses Delaying Investment

Cautious Businesses Delaying Investment

Businesses are in no rush to make investments amid the ongoing uncertainty of Brexit, according to the Institute of Chartered Accountants in England and Wales (ICAEW). More than one in four businesses are delaying investment decisions as the government continues negotiations with the EU. As a result of their collective cautiousness, 61% of those firms … Continued

Comments Off on BWM Shortlisted for Two Responsible Business Awards

BWM Shortlisted for Two Responsible Business Awards

BWM Shortlisted for Two Responsible Business Awards

BWM are delighted to learn that we have been shortlisted in two categories for Liverpool Chamber’s Responsible Business Awards: Responsible Business of the Year and Empowering People and Communities. The winners will be announced at the Chamber’s Annual Dinner on Thursday 2nd November at the Rum Warehouse, hosted by actor and environmentalist Simon O’Brien. The … Continued

Comments Off on HMRC are Gearing Up for the New Corporate Criminal Tax Offences

HMRC are Gearing Up for the New Corporate Criminal Tax Offences

HMRC are Gearing Up for the New Corporate Criminal Tax Offences

Legislation providing for new corporate criminal offences of failure to prevent the facilitation of tax evasion is now in effect. The new offences, contained in the Criminal Finances Act 2017, will make businesses vicariously liable if an employee or other ‘associated’ person criminally facilitates tax evasion whilst acting in that capacity for the business, even … Continued

Comments Off on HMRC to Tackle Offshore Non-Compliance

HMRC to Tackle Offshore Non-Compliance

HMRC to Tackle Offshore Non-Compliance

Over recent years, HMRC has adopted a zero-tolerance attitude towards offshore tax evasion. It has sent a clear message that the days of any safe havens for tax evaders are numbered. In December 2016, the government published draft legislation for Finance Bill 2017 and its response to the consultation document Tackling Offshore Tax Evasion: a … Continued

Comments Off on Under-25s Push For National Living Wage Equality

Under-25s Push For National Living Wage Equality

Under-25s Push For National Living Wage Equality
Age From 1 April 2017 Over 25 £7.50 21 to 24 £7.05 18 to 20 £5.60 16 to 17 £4.05 Apprentices* £3.50 *Rate applies for under-19s or first-year apprentices. Talk to us about your payroll requirements. Contact Sue Stephens.          ">
Workers under the age of 25 are missing out on more than £6,000 a year because they are not entitled to the national living wage (NLW). Charity group Young Women’s Trust polled 4,010 people aged between 18 and 30, finding the average young worker is paid £3.45 an hour less for doing the same work as older people. Over the course of the year, younger workers are receiving £6,279 less than their older colleagues. Apprentices under the age of 25 fall short of the current NLW rate of £7.50 an hour, leaving them £7,280 a year worse off than workers over 25. 83% currently support the idea of raising the minimum wage for apprentices and 79% suggest equal pay by extending the NLW to under-25s. Dr Carole Easton OBE, chief executive for Young Women’s Trust, said: “Much more needs to be done to improve young people’s prospects [...] significantly increasing the apprentice minimum wage and changing the law to ensure under-25s are entitled to the same NLW as everyone else.”

Checks and compliance

It is a legal requirement for all employers to pay their staff the NLW or national minimum wage (NMW). Failure to do so will result in a fine from HMRC and the employer being named by the government.

NMW and NLW rates

Age From 1 April 2017
Over 25 £7.50
21 to 24 £7.05
18 to 20 £5.60
16 to 17 £4.05
Apprentices* £3.50
*Rate applies for under-19s or first-year apprentices. Talk to us about your payroll requirements. Contact Sue Stephens.