If you are a business owner employing workers for the first time since 1 October 2017, the pensions auto-enrolment scheme is something you want to pay close attention to. Auto-enrolment (AE) for workplace pensions is a process that started in 2012. This now applies to nearly every employer who had workers on their payroll after 1 October 2017.
Since 1 October 2017, once you employ a worker, you automatically assume AE duties. Your employees must be auto-enrolled in the workplace pension if they meet the following conditions.
The following are other conditions that exclude you from auto-enrolment.
But there is a catch. If you are currently exempted from auto-enrolment by this director-only clause but on or after 1 October 2017, you employ a worker, your company will be viewed as ‘new employer’ and therefore have new auto-enrolment duties.
The deadline to issue the correct letters to your employees and set up a workplace pension for them, if needed, is five months from the date your auto-enrolment duties begin (the staging date).
You can be fined by The Pensions Regulator for missing deadlines. Although there is usually some leniency, these rules are being enforced more strictly.
Contact us if you need any professional guidance or further clarification about auto-enrolment in workplace pensions.
As a part of our wider payroll services, we can help you set up and maintain your auto-enrollment processes, ensuring constant compliance with legalities and policies and ensuring your organisation’s safety.
We provide this auto-enrollment service to businesses in Hull and the surrounding areas as well as across Yorkshire and the wider UK, all tailored to your unique business needs.
Contact us if you need any professional guidance or further clarification about auto-enrolment in workplace pensions.
Yorkshire Accountancy supports clients across Hull, Leeds, York, Rotherham, Sheffield, Beverley, Scunthorpe and other areas across Yorkshire and the Humber. Visit our accountants across Yorkshire page to find accountancy support in your area.
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