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Archive: Sep 2014

2014 minimum wage increase

The UK national minimum wage (NMW) is set to increase on the 1st of October 2014. This is the biggest increase in many years, the first increase at above-inflation levels since the recession, and means the economy is showing strong signs of recovery.

The current top line NMW is £6.31. This will be increasing to £6.50, so employers need to be prepared. Even if you’re not a direct employer, your business will still be faced with change – recruiters placing candidates at or near NMW need to factor the change into their margin and charge rates.

Employers are being urged by the Department for Business, Innovation & Skills to be ready for increases. The Government announced the following increases:

19p (3%) increase in the adult rate (from £6.31 to £6.50 per hour)
10p (2%) increase in the rate for 18 to 20-year-olds (from £5.03 to £5.13 per hour)
7p (2%) increase in the rate for 16 to 17-year-olds (from £3.72 to £3.79 per hour)
5p (2%) increase in the rate for apprentices (from £2.68 to £2.73 per hour)

Make a start early by informing your end clients, and get in touch with forest to learn how we can help.

 

 

Forest helps freelancers

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Magdalen centre, Oxford Science park, 24.09.14

Today our commercial director Jovan Pavlicevic addressed a group of medical communications freelancers. The topic of the day was ‘winning business and making it pay. Making a success of freelancing’. It was a well-received day, with freelancers gaining great insight into the ‘business’ side of their business. One of the freelancers attending commented:

I found the talk from Forest great, and it touched on exactly the right things going through soletraders vs. Ltd companies, VAT registered vs. not etc.

For any freelancer (or aspiring freelancer) time spent with forest is always time well spent. Commercial Director, Jovan Pavlicevic had this to say of the day: Forest is specialised in the niche of the contractor / freelancer so our clients benefit from years of experience in this narrow segment of the market – we’re not just your typical dusty old high street accountant!

Contact us today to see how you can earn smarter, live better with forest.

 

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