Employer Responsibilities: Financial Accounting and Employment Law

This report addresses the financial accounting and employment law aspects of employing staff. It begins by outlining the initial steps a business owner, such as William, must take, including registering with HMRC, selecting a business name, and obtaining a National Insurance number. The report then details the employer's responsibilities, such as paying at least the national minimum wage, verifying the employee's right to work in the UK, and potentially obtaining a DBS check and employer's liability insurance. It also explains the importance of providing employment terms and conditions. The report provides specific minimum wage rates for different age groups, emphasizing that those aged 25 and over must receive at least £8.21 per hour. The report also provides insights on the financial implications of different wage options, considering the hours worked. The report is completed with references to the sources used.

Employment Law

Table of Contents
Employment Law...............................................................................................................3
References.........................................................................................................................5

EMPLOYMENT LAW
In United Kingdom, for starting small business it is required to have –
 National Insurance Number.
 Registration for self-assessment with HMRC ( HM Revenue and Custom)
 Selection of business name.
Therefore, for operating business William have to satisfy above three requirements.
Along with this, as an employer the responsibilities of William is as follows –
 He is required to pay employee at least according to national minimum wage.
 He is required to check whether the person has the legal right to work in the
United Kingdom. Further, other employment checks are also required.
 William should check whether he is required to apply for DBS check, if he is
working in the area that requires one.
 Employmentinsurance should be obtained by William. As soon as, William
becomes employer, he should get Employer’s liability insurance.
 He must send terms, conditions, and details of employment to the respective
employees.
 He should provide information to HMRC by registration as an employer
(Employing Staff for the first time. 2019).
As per April 2019, the minimum wages per hour is £ 8.21 for people aged at least 25
years (What is the minimum wage? 2019). Further, minimum wage rate for younger
worker is as follows –

Table 1 Minimum Wages
Age Minimum wages per hour
Under 18 years £ 4.35
18 -20 years £ 6.15
21 – 24 years £ 7.70
Therefore, if the age of worker is 25 years or more then in such case William is required
to pay at least £ 8.21 per hour.

REFERENCES
Employing Staff for the first time. 2019. (Online). Available through
<https://www.gov.uk/employing-staff> [Accessed on 19 November 2019]
What is the minimum wage? 2019. (Online).Available
hroughhttps://www.bbc.com/news/uk-politics-48445674 [Accessed on 19 November
2019]