New Business Law From 1st October 08

New business laws now come into place twice a year, in April and October (Common Commencement Dates).

This October's changes to business legislation include:

-  National Minimum Wage - for workers aged 22+ it increases to £5.73, for 18-21 year olds it increases to £4.77, and for 16 & 17 year olds it increases to £3.53 per hour. For further information please visit the Department for Business, Enterprise & Regulatory Reform (BERR) website on the National Minimum Wage.

-  Companies Act 2006 - further provisions of the Companies Act 2006 come into place including a crackdown on company name 'squatters' - businesses that find their trading names registered at Companies House by so-called squatters can now challenge for ownership of the name. For further information please visit the BERR website on the Companies Act.

-  Consumer Credit Act 2006 - the final parts of the Consumer Credit Act 2006 protecting consumers and making the credit market fairer for businesses.  Lenders will now have to provide consumers with better information about their debts such as loans, credit cards and store cards. For further information please visit the OFT website on Consumer Credit or download the OFT guide 'Do You Need a Credit Licence' (pdf)

-  Employers' Liability Compulsory Insurance Certificate - businesses can now have electronic copies of the Employers' Liability Compulsory Insurance Certificate, and will no longer need to display and retain physical copies.

-  Estate Agents - all estate agents will now have to join a redress scheme, which aims to speedily resolve complaints and award compensation to consumers where applicable. For further information please visit the OFT website on estate agent redress schemes.

-  Doorstep Selling Regulations will protect people when buying products and services at home, giving them a legal right of 7 days to change their mind. For further information please visit the BERR website on Doorstep Selling.

-  Tobacco Products - all tobacco products should now carry graphic picture warnings to illustrate the effects that tobacco can have on health. For further information and friendly advice for smokers and those around them please contact the NHS Smoking Helpline on Tel: 0800 169 0 169 or visit the Go Smoke Free website.

-  UK Strategic Export Controls - further tightening of UK strategic export controls, including stricter controls for trading in cluster munitions, and extending controls for small arms and Man Portable Air Defence Systems (MANPADS) so they apply to UK citizens anywhere in the world. For further information please visit the BERR website on export controls.

For further information on the regulations and Common Commencement Dates please visit the Business Link website.

For examples of how individuals and businesses are benefiting from changes to regulation, and to provide suggestions on what else can be done to reduce red tape please visit the Better Regulation website.