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Auto Enrolment advice in Glasgow and Lanarkshire/h1>
If you employ even ONE person – Auto Enrolment affects YOU.
In a nutshell, new legislation requires you as an employer, to put in place a workplace pension and enrol your employees into it. When you have done this, you must make contributions on their behalf on an ongoing basis.
For some employers, it will be straight forward and for other employers, it will be complex. For example, you need to know the difference between Eligible, Non-Eligible and Entitled Workers before you start. You need to decide whether to choose a Qualifying Earnings basis or Certified Earnings basis as the wrong decision could cost your company thousands of pounds.
In either case, The Pension Regulator states quite clearly that as the employer, it is YOU who is responsible for all aspects of that scheme as and when it relates to your workforce.
That is a statement not to be taken lightly. As auto enrolment is now affecting small to micro companies, there has been a surge in employer fines for non-compliance.
The first 3 months of 2017 alone saw 4673 Fixed Penalty Notice fines (FPN) and 1043 Escalating Penalty Notice fines (EPN) issued to firms for breaking auto enrolment regulations. This compares with 14502 FPN fines and 2517 EPN fines which have been issued in TOTAL since compliance and enforcement activity began in July 2012 – almost 5 years!
The Pension Regulator is both helpful and supportive in their processes and will always try and avoid enforcement activity but the above statistics highlight how easy it is for small to micro companies to fall foul of the rules and end up being fined.
You can avoid this. Contact Affinity Financial Planning and we can take you through every aspect of the process for one fixed fee which means the minimum of disruption to your business allowing you to concentrate on more important things.
There are clearly defined responsibilities and a specific timeframe for carrying out these responsibilities. The ‘Start’ date of your workplace pension is known as the ‘Staging Date’. There are requirements, before, at and after your staging date. For example –
The Pensions Regulator warns half a million small employers to avoid fines
A warning has been sent by The Pensions Regulator (TPR) to half a million small employers of their risk of being fined for not taking action on their workplace pension obligations.
TPR executive director for automatic enrolment Charles Counsell said that TPR is “concerned that a minority of smaller employers are leaving things too late and struggling to comply on time”. Counsell also reinforced that: “Employers should start planning 12 months before their duties start.”
Even if your business has no staff to put into a pension scheme, you will still have auto-enrolment duties and you must not ignore these in order to remain compliant and avoid fines.
Non Compliance can result in a Fixed Penalty of £400followed by an on-going fine of between £50 and £10,000 per DAY, depending on the size of your business.
People We’ve Helped
Without your help, I’m not sure what I would have done. I continually put this off and the main reason was that I was not entirely clear on where to begin. Of all the services we used last year, this was undoubtedly one of the best value for money. You said it would be the least amount of fuss and disruption for me and in the end it was. Thanks a million.
MS P. BAXTER, GLASGOW
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What Affinity will do for you
We provide you with a FREE, no obligation presentation on Auto Enrolment and Employers duties.
We undertake a workforce assessment for your firm.
Call us TODAY on 01236 421422 or email us to arrange your FREE, no-obligation presentation.
Research is undertaken, based on your firm’s requirements and the assessment of your workforce, and a fully costed breakdown is provided.
If you are happy for us to provide the services to ensure that you meet your employer obligations, we take care of it and you can focus on your own business.