The rate of NMW is set to rise to £10.42 per hour from 1 April 2023. There is often a misconception that compliance with the NMW regulations is as simple as paying the correct rate per hour, or just above. There are a number of pitfalls that catch well-meaning employers out, exposing them to additional risks when attempting to comply with these regulations. Given the increasing level of HMRC enquiry activity, employers should review their approach to NMW and be prepared to demonstrate to HMRC that they are paying at least NMW to their employees.
Find out more about:
• Common pitfalls when attempting to comply with the NMW rules
• HMRC compliance activity in this area
• Steps you can take to reduce your risk of non-compliance
Key take outs from this event:
The recording will explain common pitfalls when attempting to comply with the regulations and cover areas such as:
• Identifying worker types and understanding the impact that this has on the NMW calculation.
• The definition and scope of working time and capturing and paying all working time at the appropriate time
• Deductions from pay that can cause NMW breaches, even where these are requested by an employee.
• Salary sacrifice, which can result in employees falling below NMW unless strong controls are in place to prevent this
• How your Uniform policy can create risks of breaching the NMW regulations
The recording will cover the HMRC enquiry process and include tips to help prepare for and manage National Minimum Wage enquiries, as well as actions that can be taken to minimise the risk of breaching the regulations.
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