Business General Latest updates Managing your business Your customers Sales and marketing Legislation Starting a business Your employees E-Business and I.T. Exit planning

Legislation

• The new rules on consulting employees
• The Employment Act 2002 (Dispute Resolution) Regulations 2004
• The Corporate Telephone Preference Service
• National Minimum Wage: the new rates
• The Money Laundering Regulations 2003
• The Employment Equality Regulations 2003
• Section 660A: The Attack on Husband and Wife Businesses?
• Privacy and electronic communications – the new regulations
• Insolvency reforms
• Disability Discrimination: the new rules

National Minimum Wage: the new rates

Current Rates

Following recommendations from the Low Pay Committee, the minimum wage rate increased on 1 October 2004, and the Government also introduced a new minimum wage for 16 and 17-year-olds.

The rates are now as follows:

• The main rate for adult workers is £4.85 per hour
• The development rate for workers aged 18-21 is £4.10 per hour
• 16 and 17-year-olds are entitled to a minimum wage of £3.00 an hour

(The development rate can also apply to workers aged 22 and above who are embarking on their first six months in a new position with a new employer, and are receiving accredited training)

The main adult rate will rise to £5.05 an hour in October of this year, while the rate for 18 - 21 year olds will increase to £4.25.

For further information on the national minimum wage, visit www.lowpay.co.uk.

Business:	Business Start-Up | Business General | Limited Companies Partnerships | IR35 | Business Management | PAYE & NI | VAT
Personal:	Introduction to the Tax System | Planning Aspects | Home Aspects Pensions | Aspects of Investments and Investing | VCT & EIS
Tax:	Budget Report | Tax Guide | Financial Planning Guide Tax Calendar | IR35 | PAYE & NI | VAT | Year End Tax Planning