A recent report from the HMRC has identified £3.3m in underpaid wages, the main excuse for not paying an employee at least the minimum wage was stating the employee was ‘a waste of space’, others included the fact the employee had a disability or the employer didn’t think the employee was worth it.

It is now not uncommon for the government to start to prosecute deceitful employers.

The minimum wage is set to increase as from the 1st October 2006, the changes include:

To read more about the national minimum wage and other changes that will take place as from the 1st October please go to: http://www.dti.gov.uk/employment/pay

The never-ending mortgage

A radical shake up in the mortgage industry has introduced a new scheme, which was launched Wednesday 23rd August. This new scheme, which involves parents taking out a cheaper interest-only mortgage and in turn, means that homeowners will never need to repay a single penny of their mortgage before they die.

Instead it is proposed that the debt will be passed on to the offspring allowing a reduction in the amount of inheritance tax they are due to pay on the property.

To read the full article on the never ending mortgage please go to http://www.dailymail.co.uk

stephen-hill Ltd and A4G Accounting LLP

stephen-hill have recently taken part in a business venture with QED tax advisors to form a new business called A4G Accounting LLP. A4G Accounting will now undertake all the compliance work that was previously carried out by QED. Some of the QED staff have joined A4G Accounting and will work from our offices here at West Kingsdown.

The new members to join A4G Accounting include Caroline Coleman, John Diplock, Justin Antunes and Lucie Snopkova.  Caroline and John are both fully qualified while Justine and Lucie are both studying.

There are a number of reasons for QED working with us, the main ones being to use our years of experience, and excellent systems to deliver a better and more efficient service to their clients.

To view staff profiles of our new members please visit www.a4g-accounting.co.uk then select ‘meet the team’ from the options on the left.

Quote of the week

"Success doesn't come to you…you go to it"

Marva Collins