What is Auto Enrolment?
There are lots of websites popping up for Auto Enrolment consultants, we’re different!! We don’t just advise you we actually implement into your business for you.
Auto-Enrolment is a Government initiative which came into effect in October 2012 which compels employers to enrol eligible workers into a pension scheme and make contributions on their behalf. There are a number of different ways employers can meet their obligations, but even if you employ just one person you MUST take action. Fines will be issued for non-compliance starting at £400 but could rise to £10,000 per day depending on the number of staff employed.
Every employer must automatically enrol workers into a workplace pension scheme who:
- who is aged between 16 and 74
- who works in the UK
- for whom you deduct income tax and National Insurance contributions from their wages.
This will mean some changes to the way you run your payroll, as without a payroll product that has built in Auto Enrolment software your payroll is going to be an extremely time consuming exercise every month due to the necessary checks you need to perform each month.
We advise that you start to prepare for your Auto Enrolment at least 10 months before your staging date, so you are fully prepared at least 3 months before staging, as software needs to be “locked in” at least a month before your Auto Enrolment commencing in order to get the correct data.
If you are unsure of your staging date and you know your PAYE Reference number you can find out on the Pension Regulators Staging Date Calculator or if you would like us to help you do this please ask for Stuart on 01229 498486 or email on firstname.lastname@example.org.
At TI Accountancy we offer a menu of services to employers, ranging from an assessment of your workforce all the way through to implementation of a bespoke pension scheme. We can arrange staff presentations, pension clinics and support from an experienced Independent Financial Adviser.
If you would like to see more detail on our product levels and prices (including details of our offer) please feel free to download our price guide to the right.
"Having TI Accountancy working with us on our Auto Enrolment has saved us hours of painstaking paperwork tasks. With so many employees with different circumstances it would be a mine field to keep records of opt outs and entitlements without them. Having their support has meant we can trust we are compliant and that everything is done to time and with tremendous efficiency."
"Having TI Accountancy working with us on our Auto Enrolment has saved us hours of painstaking paperwork tasks. With so many employees with different circumstances it would be a mine field to keep records of opt outs and entitlements without them.
Having their support has meant we can trust we are compliant and that everything is done to time and with tremendous efficiency."