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Minimum wage rates revised
The rates of national minimum wage applicable to pay reference periods starting on or after 1 October 2013 are:
- the main rate (for workers 21 and over) will increase by 12p to £6.31 an hour;
- the rate for 18 to 20 year olds will increase by 5p to £5.03 an hour;
- the rate for 16 to 17 year olds will increase by 4p to £3.72 an hour;
- the rate for apprentices will increase by 3p to £2.68 an hour.
From the same date, the daily accommodation offset rate will increase from £4.82 to £4.91.
Minimum wage rates revised
The rates of national minimum wage applicable to pay reference periods starting on or after 1 October 2013 are:
- the main rate (for workers 21 and over) will increase by 12p to £6.31 an hour;
- the rate for 18 to 20 year olds will increase by 5p to £5.03 an hour;
- the rate for 16 to 17 year olds will increase by 4p to £3.72 an hour;
- the rate for apprentices will increase by 3p to £2.68 an hour.
From the same date, the daily accommodation offset rate will increase from £4.82 to £4.91.
DOTAS
Draft guidance on the employment income hallmark for the disclosure of tax avoidance schemes (DOTAS) regime has been published for comment.
Business transfers
Following a discussion with the CIOT, the HMRC/Valuation Office Agency practice note Apportioning the price paid for a business transferred as a going concern, has been revised.
IHT toolkit
HMRC have updated their inheritance tax toolkit. It is effective for deaths on or after 6 April 2013.
VAT records
Notice 700/21 Keeping VAT records has been revised and replaces the December 2007 version. Details of changes can be found in paragraph 1.2.
Private use fuel
Draft statutory instrument “VAT (flat-rate valuation of supplies of fuel for private use) order” has been published by HMRC. It completes the process of updating the UK law on VAT road fuel scale charges. The current table of charges remains in place until 30 April 2014.
