‘Auto enrolment’

Top 3 payroll /pension auto enrolment questions

Monday, June 6th, 2016

Top 3 payroll & pension auto enrolment Q&A

We presented on payroll and pension auto enrolment recently at the Herefordshire & Worcestershire Chamber of Commerce Bromsgrove networking lunch. Despite this issue affecting the vast majority of employers, we found that many were still unclear on some points. Here are the top 3 questions we answered:

Question 1

“Can I opt out of auto enrolment via my employer?”

Answer: “Yes, you can. You’ll need to let them know by following the opt out procedures outlined in your auto enrolment communications”

Question 2

“I am a single director company; do I need a pension scheme under auto enrolment?”

Answer: “No, there is no requirement to set up a pension scheme if you are a single director company with no other employees. However you still have employer duties with the pensions regulator”

Question 3

“I am a single director company, am I eligible for the employers allowance?”

Answer: “No, single directors companies with no employees are no longer eligible for the employers allowance from 6th April 2016”

 

We faced other questions which apply to the majority of employers and would be happy to discuss these in more detail with you.  Please contact our payroll and pensions team with your queries – [email protected] or [email protected] or call 01527 558539.

FREE seminar – pensions auto enrolment and employer tax issues

Thursday, June 25th, 2015

We’re now taking bookings for our free seminar, covering auto enrolment and employer taxation.

For more details, see our flyer which also has booking details.

Curo Chartered Accountants..

Auto enrolment – act before it’s too late

Monday, June 8th, 2015

Nearly all employers are affected by the new rules around pension auto enrolment (‘AE’) yet recent statistics show that a worryingly high number have still not done anything about it.

It’s called ‘automatic’ because the employee is automatically enrolled onto a workplace pension scheme. Unfortunately, it’s not automatic for the employer – this is an obligation.

Each employer has a ‘staging date’ which is when the AE duties come into force. Smaller businesses ‘stage’ last and each staging date is based on the employer PAYE reference.

If a workplace pension scheme already exists, you’ll need to check it’s compliant with the new rules; if it is, there may be no requirement to set up a new scheme.

Employers are required to complete and submit a ‘Declaration of Compliance’ form to the Pensions Regulator, confirming that it has adhered to the new rules. Non-compliance will result in a fine and hundreds of fines have already been issued.

There are some exceptions – not all employees need to be automatically enrolled.

Our tax professionals are currently working with several clients to ensure they meet their auto enrolment requirements.

We can help you understand your obligations and ensure your business is compliant with the new rules. Please contact [email protected] or call Helen on 01527 558539 for some clear advice on this issue.

Alternatively, visit The Pensions Regulator website for more information..