Don’t get caught out by today’s changes in the law, small firms warned
The Forum of Private Businessis says it's concerned that many SMES may not be aware of the changes, which include revisions to the way National Insurance is calculated and the rates at which it is paid. And the organisation is warning that employers will need to look at this and other changes such as an increase in statutory sick pay in more detail.
Forum chief executive Phil Orford said: When you’re busy running your own business, keeping abreast of the latest tweaks to the complex regulatory system can seem like the least of your worries.
'However, any instances of a business failing to comply with a piece of legislation can have serious financial consequences, no matter how unintended or trivial the breach is. As a result, I would urge all business owners to familiarise themselves with changes to the law and seek professional advice if they are unsure what they need to do to comply.'