Business owners urged to remember regulation changes

Date: 1st April 2008

The Forum of Private Business (FPB) is reminding small business owners about the series of regulations changes which come into effect from next week.

A number of changes to safety laws, taxation and employment regulations will take place on April 6th - the government's next common commencement date.

Alterations to PAYE and NI thresholds will come into force from next week, with the basic PAYE rate set at ten per cent and a higher rate of 40 per cent, which will be applicable to earnings over £34,600.

Changes will also be made to P45 and P56 requirements, with employers at medium-sized businesses having to electronically file parts one and two of P45 forms, from next week onwards.

Small business owners are also being advised to familiarise themselves with changes to sexual discrimination, maternity and paternity laws.

The FPB was established in 1977 and currently represents around 25,000 businesses in the UK

For more small business accounts advice please click here