Brokerage shamed over illegal payment

A brokerage has been exposed for neglect, after severely underpaying an individual.

Mr Jinit Shah, who traded as Middlesex-based brokerage, Crystal Finance Solutions, was found to have underpaid one of the firm’s workers by just over £940.

Jo Swinson, Business Minister, named and shamed the brokerage, which trades in mortgages and remortgages, after HMRC investigations discovered that it had failed to pay one of its workers the National Minimum Wage.

Commenting on the failings, Ms Swinson said: “Paying less than the minimum wage is illegal, immoral and completely unacceptable. If employers break this law they need to know that we will take tough action by naming, shaming and fining them as well as helping workers recover the hundreds of thousands of pounds in pay owed to them.”

The naming scheme, implemented in October, ousted the brokerage amongst 36 other employers. Between them, it was found that they owed workers over £177,000, stacking up financial fines over £51,000.

On the brokerage’s website, it stated “we have a friendly and experienced team that are happy to help,” adding that its advisers “work hard to get you the best products available at the most competitive prices”.

One of the testimonials regarding ‘Jinit’ on the site in May last year, stated: “My dealings with Jinit were clear and [concise], he was very efficient in getting the full details to me very quickly and I could not find fault with anything. He explained everything in detail and emailed regularly. I would not hesitate in using Crystal again.”

“We are also looking at what more we can do to make sure workers are paid fairly in the first place,” Ms Swinson added.

“As well as being publicly named and shamed, employers that fail to pay their workers the National Minimum Wage face penalties of up to £20,000. We are legislating through the Small Business, Enterprise and Employment Bill so that this penalty can be applied to each underpaid worker rather than per employer.”

In order to increase the number of HMRC compliance officers, the National Minimum Wage enforcement budget is set to be increased by a further £3 million. This will take the total budget up to £12.2 million.

Employers that are unsure of National Minimum Wage rules have been advised to get free advice via the Pay and Work Rights Helpline on 0800 917 2368.

Note: Crystal Finance Solutions is in no way connected to Walsall based brokerage Crystal Mortgages Limited.