8 things you must know to be ready for Auto Enrolment | Applied

8 things you must know to be ready for Auto Enrolment

AccountingWEB are concerned that small businesses and accountants are not being made sufficiently aware of the existence or implications of workplace pensions.

Over the next few years nearly a million businesses will be compelled to offer their staff a work place pension.

Because of the scale of the operation support through this process will be at a significant premium. Delaying preparation therefore leaves your clients open to significant risks including:

  • Not being able to source sufficient support and advice
  • Failing to properly evaluate employee eligibility
  • Non-compliance with staging deadlines (which could result in significant fines)
  • Major business disruption as manpower and resources are thrown at complying with obligations
  • Fines and potential custodial sanctions imposed by The Pensions Regulator

Our research suggests that the vast majority of small businesses and accountants are not aware of the obligations facing them.

As a result AccountingWEB has launched the ‘No-one gets left behind’ campaign to alert as many accountants as possible to the obligations implied by auto enrolment.

Our aim is to make sure that businesses are not put in jeopardy due to unsustainable pressure to meet deadlines.

We have produced a simple eight point statement which sets out the bare facts that you need to know. All we ask is that you share this as widely as possible with colleagues, friends and associates…..