National Minimum Wage

76% of UK pet SMEs ‘concerned’ over effect of Autumn budget, PIF finds

A substantial 76% of small businesses within the pet industry have stated that the budget is detrimental to the UK economy, with 68% expressing fears that it could lead to job reductions, according to a recent survey conducted by The Pet Industry Federation (PIF). Additionally, 70% of those surveyed indicated…

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Budget: Increases to employers’ NI and minimum wage

The Chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ National Insurance contributions…

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High street footfall continues to lag behind pre-pandemic levels

Footfall levels remain 23% below pre-pandemic levels in February 2022 as rising costs are reportedly set to “batter” retailers from 1 April, according to RSM. The latest data from Datscha, analysed by RSM, shows the overall decline in footfall is the worst in London with numbers on Oxford Street down…

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Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure

Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…

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The minimum wage increase is about to hit – and it beggars belief

As if to bang the final nail into the coffin himself, we can only assume the Treasury’s top man, chancellor Rishi Sunak, refuses to give ground on the next wave to crash over the retail and hospitality industries. I am talking of course about the increase in the National Minimum…

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What we know about furlough leave and the CJRS

HMRC published details of the Coronavirus Job Retention Scheme (CJRS) on 26.3.20 which are available here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Key points include: Employees that employers can claim CJRS for For the purposes of CJRS, the definition of employee would include workers and agency workers provided they are subject to PAYE i.e. this…

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Coronavirus Job Retention Scheme – Advice for Employers

Key points include: Furloughed workers should not undertake any work for the company, including answering calls or emails JRS should not interrupt an employees’ continuity of service  Annual leave will continue to accrue Grants should be structured so no PAYE tax or national insurance contributions are due  The grant is…

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National minimum wage increases on October 1

From October 1 2016, the National Minimum Wage (NMW) increases for workers under 25 and apprentices by between 3 percent and 4.7 percent. The National Minimum Wage is the minimum rate of hourly pay most workers are entitled to by law. The rate depends on a worker’s age and whether they…

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BRC submits six-point plan to Chancellor of the Exchequer

Ahead of next month’s autumn statement, the British Retail Consortium (BRC) has submitted a plan to Chancellor George Osborne requesting that changes are made to existing measures in order to strengthen the economy. Concerns have been raised following suggestions that business rates will rise 2.6 per cent in April 2013.…

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