Halliday’s monthly newswire has been published with information of the latest business and tax issues including VAT and prompt payment discounts, Holiday Pay and Zero Hours contracts.
VAT and prompt payment discounts
Businesses which currently offer prompt payment discounts (PPD) to their customers need to be aware that there are some changes ahead to the rules.
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Holiday pay law
The CBI are warning that employers are facing the risk of significant additional costs, potentially ‘billions of pounds’, from employment tribunals challenging the normal calculation of holiday pay under the Working Time Regulations.
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National Minimum Wage consultation
The Low Pay Commission (LPC) has launched a National Minimum Wage (NMW) consultation which runs until 26 September 2014.
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Extension to flexible working rights
The right to request flexible working has been extended to all employees with at least 26 weeks’ service from 30th June 2014.
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PAYE messages for employers
HMRC will shortly start alerting employers where their records show that they have failed to make their PAYE or Construction Industry Scheme payments in full by their due date.
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Zero hours contracts and exclusivity clauses
Zero hours contracts are those where the employer does not guarantee to provide the worker with any work and pays the worker only for work actually carried out. The Government estimates that some 125,000 employees are on such contracts.
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