The retail industry is committed to complying with the National Minimum Wage (NMW) regulations. But we know that the regulations are complex and understanding how they work in practice can be difficult.
Falling foul of the regulations can result in:
- Repayments for up to 6 years (including current and ex-employees) increased to reflect the prevailing NMW rates;
- penalties of up to 200% of the underpayments identified; and
- public naming and shaming by the Department for Business, Energy and Industrial Strategy.
It is not easy to spot where and why breaches can occur, or how to remedy them. PwC have a specialist team who have a great deal of experience in assisting retailers to identify and manage potential compliance risks around NMW. This is based on our understanding of the technical aspects of the regulations and also our practical experience of the approach taken by HMRC when they perform their audits.
The webinar that we are running in February will take you through what is involved in a NMW audit and the top areas that HMRC will focus on during an audit. We will suggest some immediate actions and take questions.
DATES for your diary
23 Jan 18
|Future Retail Leaders Lecture|
10 May 18
10 Jun 18
|Annual Retail Industry Lecture|