Auto Enrolment Accountants in the UK
Offering auto enrolment preparation and support
Auto enrolment Services
If you’re looking to do auto enrolment or want to hire an auto enrolment accountants? In that case, you can save time and money by choosing our auto enrolment services. We’ve streamlined the process into one easy monthly payment, and all you must do is focus on your core business operations.
We will be there with you from A (advice on meeting auto enrolment requirements) to Z (putting the whole thing in motion).
Businesses in the UK have noticed an evident growth in auto enrolment pension schemes that are being implemented.
However, the extra costs of operating an auto enrolment pension scheme must now be clarified and accounted for within the UK, as it is now a legal requirement that can bring significant additional financial implications.
As a result, many employers may need assistance in managing compliance to reduce the overall impact on their business. If you’re struggling to manage your auto enrolment duties, that is extra on top of your workload and responsibilities. We can help by providing fully compliant auto enrolment services so that your company can comply with auto enrolment duties through completion and ongoing compliance.
To know more about the auto enrolment procedure, costs, and eligibility, feel free to contact one of our auto enrolment accountants
Auto enrolment who does it apply to?
All companies or businesses in the UK must provide workers with a pension plan.
To eligible for pension plan, following are the criteria:
- If your employee’s qualifying earnings is more than £10,000 a year
- If your employee is aged between 22 and the State Pension age
The auto enrolment process is essential unless:
- If you are the sole director with no staff.
- If you are one of the directors who does not have employment contracts.
- If your company or business has stopped trading, liquidated, or dissolved.
However, a declaration must be filled out and sent to Pension Regulator even though you want to opt or not.
The cost of not adhering to the deadlines are:
- A penalty of £4000 can be issued if you fail to conform to the statutory notice or if there’s enough evidence of a violation of the law.
- Penalties can range from a daily amount from £50 to £10,000, based on the number of employees.
- There is a civil penalty in cases where you do not pay the minimum contributions due. This can be a financial penalty as high as £5,000 for individuals and £50,000 for organisations.
- When employers fail to follow the compliance notice, a regulator can issue a prohibited recruitment penalty notice. The penalty is a predetermined amount of between £1,000 and £5,000, based on the number of employees.
How does Auto Enrolment work?
Employees aged between 22 and state pension age, making over £833 per month and £192 per week, must be automatically enrolled into a pension plan and pay specific fees to ensure a healthy retirement.
If an employee earns £5,876 or less annually, has the option of paying into this scheme, but you have the right to opt-out if you choose.
Our Auto enrolment solutions
Setting up a workplace pension scheme can seem like a very daunting task, even for small businesses with fewer employees. However, our auto enrolment accountants are experts in helping companies or businesses remove auto enrolment burdens and allowing them to focus on growing their business.
In addition, auto enrolment accountants have made things more accessible by providing employers with everything they need to start pensions plans for their employees.
You could benefit from a tailor-made auto enrolment service which is made especially for you that complies with the auto enrolment regulations. For example, age and income are considered to calculate your employer’s contribution to the pension, which is first monitored and updated frequently.
Our payroll accountant will work hard to ensure that your employee’s pension is paid out properly. In this way, whenever it’s time for the monthly upload, there are no mistakes made when liaison with your pension provider that might cause any hiccups in your pension payment schedule.
How our auto enrolment accountants can help:
- Determine who is directly affected in your business.
- Assist you with the selection of pension scheme and make sure it’s set up correctly.
- Register your scheme and business through the Pensions Regulator.
- Inform your staff members and keep them updated on your behalf.
- Maintain the administration of auto enrolment.
- Offer advice on ways to reduce the cost of salary sacrifice to help reduce cost.
- We will predict the financial impact on your business regarding the pension scheme.
Our auto enrolment accountants understand that both employers and employees want to know the ins and outs of pensions; we can help. Our payroll accountant can explain how contributions are calculated and advise on other possible criteria that might consider an advantage in your financial strategy by viewing your pension portfolio.
JOIN US IN THREE EASY STEPS
Are you looking for comprehensive retirement planning, tax reliefs? Speak to one of our chartered accountants and book your free consultation!
Get in touch
Book your free consultation or Call us now and get in touch with one of our experienced auto enrolment accountants so we can understand your situation.
Talk to an expert
Our auto enrolment accountant will ask you to provide relevant information to complete your enrolment. The process can be done via phone or email if a concealment clause is in place to protect any sensitive information.
Get a fixed quote
Once you have given us the details, we’ll propose a fixed fee price depending on the work demand.