Are you ready?
From January 2016 automatic enrolment will be extended to 1.8 million small employers. Minimum contribution rates are set to rise from 2% of qualifying earnings (currently) to 5% from April 2018, and then to 8% from April 2019.
Is your software compatible?
The first thing to make sure is that your software is compatible with your chosen pension provider. Will it enable the business to meet employee needs and is it suitable for Auto Enrolment.
Have you chosen your pension scheme?
Make sure you choose an appropriate scheme for your business, but also make sure that you give yourself time. We would recommend that your scheme is in place 6 months before your staging date.
Your Independent Financial Advisor can help you to choose the correct scheme for you and your employees.
How can we help?
With Real Time Information changes and now Auto Enrolment many businesses find that running their weekly, monthly payroll is becoming a problematic and time consuming strain on their business.
We can help by
• Taking over the hassle of the weekly/monthly pay run, to allow you to concentrate on growing your business. We'll calculate things such as Maternity Pay and reclaim this for you
• We will make all electronic submissions to the HM Revenue & Customs.
• We will provide you with paper or electronic payslips to suit you.
• Keep you up to date to changes in the National Living Wage and National Minimum Wage to ensure you are compliant.
• Calculating the correct amounts to be paid to the HM Revenue & Customs and payment schedules for your pension provider.
• Prepare you for auto enrolment, with an initial analysis of your work force and assessing the cost to your business .
• Prepare communication letters for all of your employees.
Assess the workforce each payrun, to determine which employees need to be auto enrolled.
Mills & Co Chartered Certified Accountants
Conwy Business Centre | Llandudno Junction | Conwy | LL31 9XX
Telephone
01492 862865
Email
info@millsco.co.uk
Mills & Co Chartered Certified Accountants
Conwy Business Centre | Llandudno Junction | Conwy | LL31 9xx
Telephone
01492 862865
Email
info@millsco.co.uk