Legal Stipulations You Must Comply With For Running A Business In The United Kingdom
Every business practice will have a set of regulations for legal and moral nature that it will be expected to meet for their employees concern. When a business fails to abide by some of these responsibilities, it will be facing the potential threat to its reputation and as well be at risk of facing legal charges to the whole practice all of which are quite damaging to the business. This article therefore gets you some of the basic legal requirements that must be met by the businesses operating in the United Kingdom.
Consider what the law demands from you as a business owner in terms of wages and taxes. The United Kingdom has a set National Minimum Wage which must be paid to their employees. The minimums are often varied according to the age categories of the concerned employees. This categorization will demand on the employer to pay their employees 25 years and over a minimum wage of 7.20 pounds per hour and those of the ages between 21 and 24 enjoy a set minimum of 6.70 pounds in every hour. The law further demands on every employer to deduct taxes, national health insurance contributions and student loan repayments for their employees where applicable.
All UK employers are required by law to ensure that they have a safe and healthy working environment for their employees. The standards to be met by the company are also dependent on the particular industry of practice where the employer will be operating. Take an example of a construction concern which is demanded by law to have their employees taken through an NRSWA streets works training course as an onsite safety management training. The safety and health requirements demanded by law will have the employees interests like those of paternity, maternity, discrimination and bullying well covered therein.
Insurance is the other thing that the companies operating in the UK must as well take into consideration. The laws will put a decree out of the statutes that the operations will have to satisfy certain specific kinds of insurance provisions for the business practice and there are those which the corporate will contract out of their own volition to cover their businesses. Some of the mandatory insurances for the corporate are such as motor insurances, employers’ liability cover, insurance for some engineering contracts to mention but some.
Operate as well on the safe side as an employer with a due respect to the Statutory Rights of the employees you have. Do not be caught on the wrong side violating the rights of the employees such as those of a paid leave period of 28 days, maternity and paternity leaves and as well the right to an itemized pay slip.