Auto enrolment payroll services
Auto enrolment has been phased in - Have you been left behind?
Auto Enrolment means it’s compulsory to enrol eligible staff into a pension scheme
Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and then contribute to it. This is called 'automatic enrolment'.
“Some businesses have been keen to get the ball rolling and were well prepared for this new chapter in employment legislation.”
But others have either not made the time or had the correct advice to begin putting auto enrolment into action. So first things first. If you are an employer, at the very least you will need:
the PAYE reference for each member of your staff
Your 10-digit auto-enrolment letter code which you will have received from HMRC
The age and salary of your member of staff to enrol
You then need to pay the correct contributions on time into your staff pension scheme. If you don’t do this, you risk being fined by the UK Pensions Regulator. As at August 2017, the correct contributions are:
Employer's staging date to 05/04/18: 1% employer minimum contribution and 2% (including 1% staff contribution) total minimum contribution
06/04/18 — 05/04/19: 2% employer minimum contribution and 5% (including 3% staff contribution) total minimum contribution
06/04/19 onwards: 3% employer minimum contribution and 8% (including 5% staff contribution) total minimum contribution
As you can see, auto-enrolment is rather a complex area. But not if you have expert advice.
Payroll services allow you the freedom to focus on growing your business saving you time and energy. The best way forward is to find one which offers a fully managed payroll service for start ups and small businesses so you have complete piece of mind.
We offer online payroll services throughout the UK and have the team, the time and the expertise to help you at Proto Payroll. For an informal chat, please email email@example.com or complete a free quote using our payroll calculator on our website.
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