New Minimum Holiday Entitlement

October has been a busy month for changes in legislation. One of these is the increase in holiday entitlement from 24 to 28 days (5.6 weeks) including bank holidays.

The 28 day entitlement applies to those of us working a full 5 day week. This is applied pro rata to those on part time hours. (For example, 22.4 days, for anyone on a four day week).

Other holiday pay basics are as follows:

• Holiday starts to accrue as soon as an employee begins work.
• The employer can control when the holdiay is taken.
• Employees are entitled to normal pay whilst on holiday.
• When an employee leaves, they are entitled to be paid for holiday accrued but not taken.
• Bank & public holidays can be included in the annual entitlement.
• An employee continues to be entitled to their holiday leave throughout their ordinary and additional maternity leave, paternity leave and adoption leave.

New National Minimum Wage From 1 October 2009

The National Minimum Wage has increased, again, from the beginning of this month.

New rates from that date are as follows;

• For workers aged 22 or over: £5.80 per hour
• For workers aged 18 - 21, inclusive: £4.83 per hour
• For workers aged under 18 (but above compulsory school age): £3.57 per hour

Almost all workers are entitled to NMW, but there are some groups who are not.

• Self employed people
• Apprentices under the age of 19
• Apprentices aged 19 years or over, but only for the first year of their apprenticeship
• Children who are still of compulsory school age.

So, if you're an employee, you should now be paid at least these hourly rates. As an employer, you need to be aware of the rates, to ensure you are keeping up with your legislative responsibilities.

Companies Act 2006, Introduces Complete Set of New Companies House Forms

From 1 October 2009, the Companies Act 2006 has introduced a set of new forms for conducting day to day company business.

These new forms cover everything from Annual Returns to changes in directors, registered office, accounting reference date etc.

Those of us familiar with the completion of a Form 363 (Annual Return) will now be doing so on a Form AR01. The original Form 288(a) (Appointment of Director / Secretary) has now been replaced by a Form AP01 (Director), AP02 (Appointment of Corporate Director), AP03 (Secretary) and AP04 (Corporate Secretary). (Good to see, another Government Department helping to simplify administration. Hmmmm).

A full list of the new Companies Act 2006 forms is available on the following link (including details of the original 2005 Act forms they are replacing).:

www.companieshouse.gov.uk/forms/formsOnline.shtml#Company

Full details of the new Companies Act implications can be found at:

www.companieshouse.gov.uk/companiesAct/companiesAct.shtml

VAT Changes For Online Payment & Filing

In a bid to move ever closer to the phasing out of paper filing, HMRC have announced new Government proposals as follows:

• From 1 April 2010, all VAT registered businesses with an annual turnover of £100,000 or more (excluding VAT) must file their tax returns online and pay electronically.
  
• From that same date, all businesses newly registering for VAT, whatever their turnover, must file their returns online and pay electronically.
  

Paper returns will still be an option for the remaining VAT registered businesses, but this will be reviewed More information can be found on the HMRC web site, at http://www.hmrc.gov.uk/vat/start/register/signup-online.htm

Changes To Banking Services And Making Payments To HMRC

During 2009, H M Revenue & Customs are moving over to new banking arrangements.

The banking details are as follows:

Current Bank Account Details:

Account Name: HMRC VAT

Sort Code: 10 00 00

Account Number: 52055000

New Bank Account Details:

Account Name: HMRC VAT

Sort Code: 08 32 00

Account Number: 11963155

If you use online banking, and have stored templates or transactions, that you use when making your current VAT payments, you may need to update these to reflect the changes.

More information or guidance can be found at http://hmrc.gov.uk/payinghmrc/