27th February 2017 Posted by - Alexander Accountancy
Auto Enrolment – The final intake of employers.
Alexander Accountancy has been involved with auto enrolment since February 2015 and offers a cost effective compliance only solution to employers.
Alexander Accountancy also collaborates with other accountants and has grown several successful relationships offering the same solution to clients of other firms.
This year will see the remaining small employers having to offer pensions to their employees and may provide a new set of challenges due to the numbers involved.
Are you one of the small employers that still need to set up a scheme?
If so do you know when your staging date is and are you ready. As time has gone on Alexander Accountancy has found more and more employers are leaving setting up schemes until the last minute. In January 2017 we had new enquiries where some employers only had a matter of days before they needed to have schemes set up by 1st February 2017. And although Alexander Accountancy successfully helped them meet their obligations, this will become harder as this year progresses.
During 2015-16 there were 92,700 employers that needed to offer pensions to their staff, in 2016-17 this is expected to be at least another 305,000 and in 2017-18 it is expected to be over 395,000 new schemes that are required.
Meaning that for employers leaving it until the last minute there are two distinct risks. They may find it harder to get the help they need to set up a scheme as demand puts pressure on the available supply of advisers and increases the risk of having to pay penalties for missing deadlines. Then that these same market forces could result in them having to pay more for the help they need than if they had planned well in advance.
If you would like to find out more about how you should be preparing to meet your auto enrolment obligations please telephone on Burton upon Trent 01283 743851 or email email@example.com