New Minimum Wage Of £6.19

Discussion in 'Managing Your Business' started by laddergarder, Oct 26, 2012.

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  1. laddergarder

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    Just thought I would post this up for info for anyone else out there who employ staff. But in fairness it affects everyone nonetheless as we all want to afford ourselves the same benefits that any employee would get.

    Effective as of the 1/10, £6.19 for anyone over the age of 21.
     
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  2. rcproperty

    rcproperty Hero
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    Not sure about this one, but don't forget about the new law on work place pensions!
    Every employer has to automatically enrol all the employees into one!

    https://www.gov.uk/workplace-pensions
     
  3. laddergarder

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    I don't think it will affect me until 2015, they are rolling this out in stages, from large companies to small ones. Either way its going to be expensive, and allot of products and services are going to be marked up to allow employers to afford this. It is fine if an employee want to pay part of their wage into a pension, but why are employers been forced to contribute to their pensions as well.

    Large scale manufacturers will be moving more and more of their operations abroad, if they keep making it harder and more expensive to employ staff in this country. This one will definitely not help the economy. What also annoys me about this one, is where is the guarantees that someone who opts out will get a lower state pension, than someone who opts in, and pays into it there whole life. How much more will they get of a pension? nobody has a clue.

    Its just another tax, with a new name, arge :D
     
  4. All Round Cleaning

    All Round Cleaning Grand Master
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    I totally agree Ladder.

    At the end of the day if you dont contribute to a private pension who is going to keep you ?
    the government ! regardless of if you have paid into a pension or not , you have paid ya stamp so that entitles you to a pension .
     
  5. rcproperty

    rcproperty Hero
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    when this comes into play and effects me, im just going to make staff all self employed and tresat them as sub-contractors, that way i'll get away with it
     
  6. david247

    david247 Banned

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    but wouldn't that make your insurance more expensive, also making expense for pension less expensive from self contractor insurance ????? i would say that there wage was 6.19 we will add ten pence to the pension scheme if that's even possible.

    also the TORY government are sending us back in the 80S not the 120th not the 21st century its a shame they even trying ripping up the NHS
     
  7. rcproperty

    rcproperty Hero
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    it will make the insurance cheaper as i wont need the employees insurance, having the employees insurance has taken my insurance from £120 a year to £460 a year! the self employed person will have to have there own insurance.
     
  8. david247

    david247 Banned

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    but that means the self employed person is called a contractor ???

    its ok iv answerewed my own question stupid of me lol

    Self-Employed
    As a Self-Employed person – you can be called a Freelancer, Sole Trader, Contractor or limeted company . The self-employed have very few employment rights at present.


    but my company is fully insured but not for sub contractors or self employed etc you insurance will go up i would recommend that you check with your insurance company first. or insurance documents like iv did today as some wording missing out of it thats make me liable i
     
  9. rcproperty

    rcproperty Hero
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    no he will just be a self employed. the just invoices me for the 'wages' each week,
    i would be the contractor in a way

    this is how my dad used to do it with me to save a lot of time and money
     
  10. Smurf

    Smurf Banned
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    Does that mean I can give myself a payrise now :rolleyes:

     
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