Start-ups receive auto-enrolment reminder

Anyone starting a business or hiring new staff from this October will have instant auto-enrolment duties to fulfil, according to The Pensions Regulator (TPR).

All businesses set up before April 2012 have now passed their staging date, while the majority of businesses reaching their staging date this year are confident they will comply with their duties.

Out of 476 respondents, 86% of employers who staged between January and April were aware of auto-enrolment, followed with 79% staging between May and November and 65% in January 2018.

Further findings:

  • 65% of small businesses and 56% of micro employers fully understood their duties 
  • 60% who staged between January and April knew how many of their staff they need to enrol, compared to 47% staging between May and November and 43% due to stage in January 2018
  • 70% who staged between January and April believe auto-enrolment is a good idea for their staff, along with 69% staging between May and November and 81% due to stage in January 2018.

Charles Counsell, executive director of auto-enrolment at TPR, said:

‘”More than seven million [workers] are now saving into a workplace pension and auto-enrolment is now simply part of running a business.

“From October, as soon as you take on staff you will have duties towards them. Anyone setting up a business and taking on staff will need to work automatic enrolment into their plans.”

Contact us to discuss your auto-enrolment duties.

SJD Accountancy

SJD Accountancy are the UK's largest specialist provider of fixed fee, Limited company accountancy services to contractors; we've been acting for contractors across the UK since 1992 and have more than 15,000 clients.

We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies - ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

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If you have any questions about contracting or would like any further advice please call our new client services helpdesk on 01442 275789 or email: janice@sjdaccountancy.com. Our new client services helpdesk is open Monday to Friday (8am to 6pm).

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