Auto-enrolement can't get any easier with The Accounts Centre by your side...

saving you from hefty fines and hours of unnecessary extra work.

With on the spot penalties starting at £400 and daily penalties ranging from £50-£10,000 (depending on how many staff you have) it's imperative your business has the correct pension auto-enrolment procedures in place. 

According to goverment statistics, over 7 million people in the UK aren't saving anything (or enough) for when they retire.

The auto-enrolment laws aim to make sure that more people are saving more money for when they do finally retire.

Does it affect my business? 

Every business in the UK that employs at least one member of staff is obliged to auto-enrol eligble staff members into a qualifying pension and to make a contribution into a scheme.

You need to assess your workforce to decide who exactly is eligible for auto-enrolment.

'Eligible jobholders' must be...

Working in the UK (or usually working in the UK).

Between the age of 22 and the SPA (State Pension Age).

Earning above £10,000*p.a

Walk you through the tricky tax traps that could catch you out and that most business owners don't know about.

*This threhold is reviewed and subject to change on a yearly basis. 

As an employer, you are required to give your staff prior warning about the scheme (via written letter) and to allow non-eligible jobholders to opt in too. 

You should start considering auto-enrolment as soon as you start thinking about employing staff.

If you require any assistance, or would live further information on auto-enrolment, feel free to give our wonderful team of accountants a call today on: 01829 332010 (Chester) or 0151 380 0104 (Liverpool). 

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So what is required to avoid hefty fines and get my employees on this compulsory scheme? 

The Planning Stage: 

Ongoing: 

  1. Find out your business's staging date. 
  2. Evaluate who's eligible for auto-enrolment out of your employees, based on age, salary and location.
  3. Organise your records using your current payroll software, making sure that they're up to date and easily accessible. Including: D.O.B, NI Number and the latest contact details for the pensions regulator and scheme provider.
  4. Choose a pension scheme. If you already provide a pension scheme, double-check to see if it qualifies under the auto-enrolment regulations. If not, you need a new one and quick.
  5. Let your staff know via a formal letter, Informing them how it works and how they can opt out if they wish to.
  6. Inform your pension scheme provider.
  7. Let the Pensions Regulator know and complete a declaration of compliance to inform them that you've met the auto-enrolement regulations.
  8. Start contributing between 2% and 8%, depending on your business.
  9. Maintain your recrods ensuring that employees who become eligible (e.g. those who turn 22) are opted in automatically.
  10. Re-enrolment. Every 3 years, you need to re-enrol staff members, whether they've previously opted out or not - you will have to start at step 1 again.

 A real pain, right? 

Unfortunately this is compulsory, but it doesn't have to be something you need you think about...

At The Account Centre we're more than happy to give you a helping hand.

We Will: 

Find your staging date

Set up and support you through the entire process.

Inform your staff

Keep your recrods up to date with advanced software

Save the grief, time and hassle out of the whole process, so you can focus on the important aspects of your business.

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I am pleased I moved from PKF several years ago because I feel I have received a much better service from The Accounts Centre since then. In addition (no pun intended) to saving money as well. What impressed me most was the extra service I feel we receive either when we have a query or when having my annual review. I use Liz and her team for both my business tax (turnover >£Sm) and personal. I am normally reluctant to recommend services, in case they let someone down, however, in this case, I have no problem recommending them highly. I’m really glad we changed.

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I have known Liz for well over a decade and when I set up my business there was no doubt who\would turn to for business advice. The team at The Accounts Centre is always on hand to respond to queries and continues to provide my business with a first-class tax & accountancy service. It is a relief to know a team of professionals are working for you and thus helping you to focus on your customers. I continue to recommend The Accounts Centre for sound and reliable business advice.

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I have known Liz now for about 8 years, during which time she has acted as my company accountant. Throughout this time, I have had an exemplary service from Liz personally, and from her entire staff at the Accounts Centre. I have utilised a range of services that she offers and have no hesitation to do so even further. I feel that I can approach Liz with any enquiry and it is always dealt with in a speedy, professional and organised manner.

The professional rates charged are extremely competitive; in fact the ‘service’ that Liz offers is undoubtedly value for money. In another context, I have often approached Liz for professional advice which has not always just been financially-related. When asked, she offers me a sound and honest opinion, and not just what she thinks that I may want to hear. This supportive opportunity is of the utmost benefit when working in a small business, especially when you need a confidante to bounce ideas to.
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Whether you've got a pensions auto-enrolment already in place, or not, give us a call today to find out how The Account Centre can improve and take the hassle out of your pensions auto-enrolment scheme. 

You wouldn't want to get a penalty would you?