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Press ReleaseAugust 2007: UHY Wingfield Slater gives company bosses advice on new government rulesVital information for company bosses on increases to the national minimum wage and new limits for redundancy pay have been published by UHY Wingfield Slater, one of Sheffield’s leading accountants and business advisers. This year the national minimum wage rate (currently £5.35 per hour) will rise to £5.52 per hour. The rates for 18 - 21 year olds and qualifying 16 and 17 year olds have also risen. The new limits for redundancy pay are now in force, reports UHY Wingfield Slater. The maximum statutory amount payable has increased from £290 to £310 per week. Employees who are 18 years old and have two years’ continuous employment can now claim redundancy pay. There is now no upper age limits for claims, which means that those over 65 years old can now claim. More details are available in the UHY Wingfield Slater Financial Monitor advisory newsletter which is emailed to UHY Wingfield Slater clients and is also available for anyone to download from its website: www.UHY-wingfieldslater.com. The newsletter also includes useful advice on changes to the official rate of interest used to calculate director and staff loans, how to prevent nuisance cold calls whilst at home or at work, and guidance on declaring cash on entering or leaving the UK on business trips. The tax implications for anyone contemplating investment into Real Estate Investment Trusts are also contained in the Financial Monitor newsletter. |
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