The National Minimum Wage and Living Wage
In April every year, at the end of one Tax Year and the start of the next, the National Minimum Wage and Living Wage increases. This is important for everyone in the equine industry - employers and employees alike. Equestrianism is a notoriously low-pay industry in terms of hourly salary, and salaries are frequently, if not always, topped up with extras, bonuses and tidbits. But in reality, how lawful are we in doing this without the advice and guidance of accountants and tax specialists? And what are the consequences of getting it wrong? The UK Government has strict laws regarding the minimum sum of money any individual can receive in return for work done and it can be confusing at least, a minefield at worst, when remunerating staff not just fairly, but legally too. In this article, we take a timely look, and research answers to basic questions for both employers and employees regarding the National Minimum Wage and Living Wage and to highlight common misconceptions within the equine industry regarding wages, remuneration packages and the law.
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