Manchester accountants will be working with business customers as March gets underway, in order to highlight the potential risks posed by breaching the minimum wage regulations.
From March 7th 2014, the penalty for failing to pay employees the statutory minimum (or more) increases to £20,000, substantially more than is likely to be saved by flouting the legislation.
HMRC have already started to take sterner action on the issue, naming and shaming five businesspeople who have already infringed on minimum wage rules – including one in Manchester.
The salon owner underpaid one worker by £1,760.48, the second-highest sum of the five named by HMRC this week.
Business secretary Vince Cable says: “We know that people are put off using a business’s service if it is found guilty of not paying its workers the minimum wage.
“This is a clear warning to employers: you will damage your reputation and face a stiff penalty, if you don’t pay the minimum wage.”
At present, there is a certain amount of excuse for minor infringements, as some people may not be aware that the minimum wage increased on October 1st 2013.
If you are uncertain of whether you are currently complying with the regulations, speak to Manchester accountants, who will help you to make sure you are doing business in line with the region’s own rules, and with nationally applicable legislation.