NATIONAL MINIMUM WAGE
With effect from 1st October 2012 the hourly rates increase as follows:
21 and over £6.19
18-20 years £4.98
16-17 years £3.68
A new version is now available and copies can be downloaded at www.hmrc.gov.uk/forms/p46.pdf
From 6th April 2013 students must be treated in the same way as all other employees for Income Tax and National Insurance contributions purposes and consequently Form P38(S) will be withdrawn from this date.
FUEL MILEAGE RATES
The business mileage rates changed on 1st Sept 2012 and are now:
Engine size Petrol Diesel LPG
1400cc or less 15p 12p 10p
1401 – 2000cc 18p 15p 12p
Over 2000cc 26p 18p 17p
Employee’s own car unchanged at:
45p per mile for the first 10,000 business miles per annum
25p per business mile thereafter.