Under Auto Enrolment, employers have new legal duties to comply with and may need to automatically enrol certain members of staff into a pension scheme and make contributions towards it.
For auto enrolment purposes, ‘gross earnings’ include salary, wages, commission, bonuses, overtime, statutory sick pay and statutory maternity, paternity and adoption pay.
At TaxAssist Accountants we are working together with Scottish Widows, one of the UK’s leading pension providers, to create The TaxAssist Accountants Client Pension Scheme, which offers a host of features and benefits for small businesses that are normally only available for larger organisations.
This exclusive scheme is available only to TaxAssist Accountants clients and offers auto enrolment benefits such as competitive charges, flexible transfer and consolidation options and a choice of options upon retirement. Please feel free to contact us if you would like to be put in touch with your local TaxAssist Accountant to find out more.
By Jo Nockels
Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.