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The Accountants for Growth

Access the Furlough Scheme in order to save your business and the jobs of your team

Access the Furlough Scheme in order to save your business and the jobs of your team
Information on how the Government's Job Retention Scheme is likely to work.
The objective of my blog is to help explain how the Furlough Scheme is likely to work so that you can see how it will benefit your business. I must say that this articles is based on my understanding of the Sheme, based on the information released so far and should not be relied on for advice at this stage
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National Minimum Wage 2020

National Minimum Wage 2020
The treasury has announced that from 01 April 2020, the National Living Wage will increase by 6.2%. In real terms, this means that any employee over 25 years of age must now be paid at least £8.72 per hour.For those of you who are or employ workers aged under 25, there are also increases to the other minimum wage bands between 4.6% and 6.5%.
 
National Minimum and Living Wage rates are reviewed annually and changes are usually effective from April each year. The current and historic minimum wage bands can be checked at any time at https://www.gov.uk/national-minimum-wage-rates
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Changes to Employment Allowance

Changes to Employment Allowance
Are you an employer? Do you pay Employer National Insurance contributions for your staff? Employer NI contributions are a cost to the business and are currently* calculated at a rate of 13.8% on any wages over £166 per week per employee aged over 21 years.

Did you know that you could get up to £3,000 a year off your National Insurance bill if you’re an employer? This is the benefit of Employment Allowance.
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Auto Enrolment – Increase in Minimum Pension Contributions

Auto Enrolment – Increase in Minimum Pension Contributions
Under the Pensions Act 2008, every employer in the UK must put certain staff into a workplace pension scheme and contribute towards it. This is called 'automatic enrolment'. If you employ at least one person you are an employer and you have certain legal duties.
 
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Paying your Staff - 2018/19

Paying your Staff - 2018/19
There is no doubt that the authorities are stepping up their game against businesses who are not paying their staff the National Living Wage. Recently 50 businesses in the hospitality sector, including two fish and chip shops, have been targeted by H.M. Revenue & Customs resulting in the businesses being censored and fined.
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