The high cost of the low cost option
Date: 2nd February, 2016 | Author: Jacqui Gudgion | Comments: 0
A new team of compliance officers in HMRC will be investigating the most serious cases of employers not paying the right amounts of National Minimum Wage (NMW) and National Living Wage (NLW) which comes in to effect from April 2016. In addition no compliance can result in increased levels of penalties. The penalty for non payment of NLW will be 200% of the amount owed, unless the arrears have been settled within 14 days up to a maximum of £20,000 per worker.
It should be noted that anyone found guilty will be considered for disqualification from being a company director for 15 years. Company directors would be well advised to ensure someone is reviewing pay rates are/will be compliant.
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