It would be fair to say that the legislation relating to workplace pensions is something known universally amongst UK businesses. In our experience, however, the exact implications and requirements of certain aspects – in particular what is meant by the term “auto enrolment” – has not been conveyed in a way that allows for direct or easy understanding. Our services in respect of this give business owners a clearer understanding of the requirements as well as delivering the assurance of all obligations being met.
The biggest misconception about the auto enrolment process is that there’s an assumption it is handled automatically by bodies such as HMRC. Whilst it is easy to see how many have made this assumption on the basis of the name, this is not the case. The intention of the name is rather to reflect that all employers must automatically enrol staff into the workplace pensions scheme unless certain exclusion criteria exists.
In terms of deadlines for compliance with workplace pensions, we are now at the point where the staging date for the majority of businesses not already registered is close. For the most part it is small to medium sized enterprises that face this deadline. Despite the fact that extended time frames have been put in place, many such businesses do not have the resources or the amount of time required to give this important legislation the consideration required. Our services have been designed to ensure those in this situation meet their obligations and requirements in full.
We work in a way that sees us serve you to and through the staging date deadlines for your business. The end-to-end process we put in place ensures that there’s a full assessment of all registrations and exclusions you as an employer need to make in the first instance, along with a comprehensive understanding of requirements going forward.
The auto enrolment services we offer at Paifang Accountants and Tax Advisors give clients across Taunton a great deal of confidence. We will ensure their registrations, contributions and record keeping meet and exceed the obligations stipulated in the workplace pensions legislation.