If you have staff (including companies with more then one director) you will in the next six months, need to look at your auto enrolment obligations.
There is a lot of mis information circulating around auto enrolment. Every time I talk to someone about it, I end up correcting them because they have mis-interpreted something they read on google, or got told by a friend.
What’s important to know is that it is more complicated then you think and easy to get wrong. The likelihood of being inspected by The Pensions Regulator is higher to because The Pensions Regulator have spent a fortune working on this initiative and are making clear example of businesses, big and small, who are not complying.
If you pay into a current pension, do not just assume that exempts you from auto enrolment. This is catching people out who did not realise their company pension was not auto enrolment compliant.
We are also seeing many people rush to set up with NEST even though upon further investigation, they either didn’t need to, or they were ineligible to do so because of their earnings.
Here at KFH Accounting, we have spent a lot of time on this area – getting it right and taking away the stress of this complicated area. The fixed fee penalties for non compliance of auto enrolment, issued by The Pensions Regulator, start at £400. Our fees for a bound report, explanation of your obligations, letters to staff and ongoing processes start at only £299 + VAT.
Save the time of not having to worry about it by letting us take care of it for you. Please just give us a call for more information.