Business and Other Briefings
BIS: The Government has confirmed that it has accepted the recommendations from the Low Pay Commission (LPC) on the new rates for the National Minimum Wage.
The new rates, which will come into force on 1 October 2010 will be:
The new rates, which will come into force on 1 October 2010 will be:
* £5.93 per hour for low paid workers aged 21 and over
* £4.92 per hour for 18-20 year olds
* £3.64 per hour for 16-17 year olds
The Government also announced that it had accepted the LPC’s recommendation to introduce an apprentice minimum wage of £2.50 per hour. The new rate will apply to those apprentices who are under 19 or those that are aged 19 and over, but in the first year of their apprenticeship.
BIS: The Government’s updated Forward Programme, setting out all business regulation planned for introduction over the next 12 months, was published last week. The new edition of the Forward Programme follows on from the measures announced as part of the Budget, that will improve the understanding of, and control over, the flow of new regulation.
Previous restrictions where the period of ownership for UK tax purposes differed from that used in the other country or where the chargeable gain in the UK was less than in the other country have been withdrawn.
The compliance checks legislation introduced a new normal four-year time limit for assessments and claims, from 1 April 2010, in schedule 39 of the Finance Act 2008. This affects Capital Gains Tax, Corporation Tax, Income Tax, PAYE and VAT.
