- January 30, 2017
There are several law changes scheduled for the statute books in the coming year, some of which may affect your business. Remember, ignorance is no defence in law so check out some of the changes coming in 2017. What do they mean for your business? Concept Law have put together all you need to know:
Minimum Wage Increase
First in the list is the rise in the minimum wage, which will take effect from April 2017. The minimum wage rises from £7.20 per hour to £7.50 for those over the age of 25. The 18 to 20 and 21 to 24 age brackets get smaller increases to £5.06 and £7.05 respectively. By 2020, the government was the national minimum wage to be £9 per hour.
Letting Agents May be banned from Charging Tenant Fees
If you are a letting agent, the days of charging tenants for administrative tasks and reference checks could be numbered. Citizens Advice calculate these costs at an average of £337 per person but many tenants are charged over £500, especially in the capital. Although Chancellor Philip Hammond said he wanted these law change as soon as possible, he didn’t state a timetable.
More Funded Apprenticeships
A 0.5% “payroll tax”, a levy on big businesses will see three million apprenticeships up for grabs from April 2017.Set to raise £3 billion a year, the levy only applies to businesses with a salary bill of more than £3 million a year. Thus, smaller companies are protected from the additional burden but could essentially pay dividends by opening more opportunities for over-16s to learn on-the-job.
100% Electric Car = NO Road Tax
Running a fleet of vehicles can be expensive, a significant overhead for a business even if they are essential to the work your employees do. With this in mind, swapping your fleet to 100% electric vehicles could reduce running costs substantially, especially if you generate your own electricity through solar panels or other means. Add in not paying road tax and your vehicle running overheads will tumble.
Ban on Small, Branded Cigarette Packets
In an effort to reduce the number of smokers across the EU, open displays of cigarettes were banned in May 2015. Manufacturers also had to phase out logos and bright colours, with all packets now being dark green. Now, packets of 10 cigarettes and pouches of tobacco smaller than 30g will also be banned from sale.
There are other changes in the law coming in 2017 – which ones affect your business – if you’re looking for legal advice for your business, then as experienced Nelson Solicitors, why not let us help?