Payroll Update

Automatic Enrolment – Don’t leave it too late!

If you have received a letter from The Pension Regulator telling you to “ACT NOW: you have new legal duties” then don’t just ignore their warning.

22387798_mlThe notification will advise you of your staging date and this is the date when you must have all your plans and your qualifying pension scheme in place.  So if you have a staging date in 2017 then you must start planning now.

Workplace pensions and automatic enrolment are duties that cannot be ignored.  One way or another it will affect your business.  The Pension Regulator has been issuing more £400 fixed penalty notices when an employer has not complied with their duties with escalating penalty notices following, which can amount to significant fines depending on the number of employees you have.

In order that you plan ahead you must:

  • Set up a pension scheme that is suitable for automatic enrolment purposes
  • Make sure the payroll software you use is going to be able to deal with the assessment you need to complete every  time you run your payroll or ensure the people who process your payroll for you are ready to complete the pension assessment on your behalf
  • Make sure you communicate the changes that are happening to your employees within the deadlines set out by The Pension Regulator
  • Enrol any workers who meet the qualifying criteria into your pension scheme within the set timescales
  • Monitor any changes as you run your payroll
  • Complete a Declaration of Compliance with The Pension Regulator within a set timescale.

Payroll Web ImageAs smaller companies now have to meet their duties, there are many who have missed their deadline and are now starting to panic.  However, as more and more businesses need support to help them comply with their duties then the capacity for automatic enrolment experts being available to assist, may diminish.  Advisers such as ourselves are being urged to expect an avalanche of requests from clients who have imminent automatic enrolment dates coming up.

So if you need our help, please get in touch immediately so we can help you plan ahead and ensure you meet your duties in 2017.

HMRC to crackdown on use of fake freelancers

HMRC is creating a specialist team to clamp down on businesses using allegedly freelance workers who are effectively in full-time roles. The move comes after the Government raised concerns that up to 500,000 workers could be wrongly classed as self-employed, denying them protections such as maternity leave, sick pay and pensions, and costing the Treasury more than £300m in lost national insurance. Courier Hermes has been in the firing line after more than 100 complaints from workers that they are paid less than the living wage, which has initiated an enquiry into self-employment practices at the firm.

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Nov 19

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