The government has announced the new National Minimum Wage (NMW) rates that will apply from 1 April 2025. The National Living Wage rate paid to those who are aged 21 and over has increased by 6.7%. This is a relatively modest increase in comparison to the last 2 years but is still expected to equal two-thirds of median earnings and in real terms be the highest minimum wage has been in its history in the UK.
Two days before the Budget, the Prime Minister announced that the cap for single bus fares would be increased to £3 from its current £2. The current fare cap is due to expire at the end of 2024. Without intervention, prices for some routes looked set to rise significantly. The new £3 cap will run until the end of 2025. The cap means that no single bus fare on routes that are included in the scheme can exceed £3. Routes where the fare is less than £3 can only increase in line with inflation.
From 26 October 2024, employers were given a new legal duty to take “reasonable steps” to prevent sexual harassment of employees. This duty requires employers to anticipate when sexual harassment may occur and take reasonable steps to prevent it. If sexual harassment has already taken place, then an employer would need to take action to stop it from happening again.
In a recent court case, a company director from Bury was sentenced to prison for failing to comply with basic accounting and legal responsibilities. Vezubuhle Ndlovu, the former director of VN Electrics Limited, was jailed for 10 months after he failed to provide the required records when his company went into liquidation, leaving over £200,000 in unpaid taxes. This case serves as a stark reminder of the consequences for businesses that do not prioritise accurate accounting, particularly when dealing with financial and tax obligations.
In today’s digitally connected world, social inclusion has extended into virtual spaces, and young people are increasingly exchanging personal information to stay connected with friends and access social media platforms. This trend has raised significant privacy concerns, especially as recent research by the Information Commissioner’s Office (ICO) reveals how critical data handling is for safeguarding children online.
A strong relationship with your bank is a crucial part of the success and stability of your business. You may rely on them for tailored financial solutions, ranging from short-term credit facilities to long-term loans, to support your growth plans or manage cash flow fluctuations. At the same time, we can sometimes feel that the bank is calling all the shots, and it is difficult to get any redress when something goes wrong. If you are in that position, then the Business Banking Resolution Service (BBRS) may be able to help you.
Following the release of the Employment Rights Bill, its Impact Assessment was published last week showing that the new Bill will have a “positive direct impact on economic growth.” The Bill received a majority vote at its second reading in the House of Commons last week, and now goes to committee stage, where it will be given a detailed examination.
The UK government has announced a consultation on new legislations designed to regulate Buy-Now, Pay-Later (BNPL) products. The forthcoming rules, which will bring BNPL products under the supervision of the Financial Conduct Authority (FCA), are designed to provide the same key protections for BNPL as exist for other consumer credit products
If a cyber incident affects your business, the way you communicate with your staff, stakeholders, customers and perhaps the media, can make a huge difference in the way your business is perceived.
In an incident, attention tends to focus on the technical aspects of putting things right and communication may be left as a secondary concern.
Samantha Fairweather, the director of Essex-based Fairweather Construction Ltd, has been disqualified from serving as a company director for eight years, after it was discovered that the firm took in excess of £300,000 in deposits for home improvement projects it failed to deliver.
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