AE Guide For New Companies - Workplace Pensions Direct

AE Guide For New Companies

A step by step guide to dealing with changing employer circumstances

The rules are simple.  As soon as any business hires a member of staff and pays them via PAYE, they will have duties under the Pensions Act 2008, regardless of how much they earn.  This guide will show you what you need to do when presented with different employer situations.

NEW BUSINESSES

Director Only

If the business employs sole directors, please click this link to give you more guidance from the Pensions Regulator.

New Members Of Staff with no-one that earns over £10,000.00 per year

There are still duties that need to be completed.  WPD has a service at a reduced fee which will enable us to complete the legal duties on their behalf. Please contact us on 0113 457 4563 or e-mail info@wpd.email for more information.

New Members Of Staff with at least one member of staff that earns OVER £10,000.00 per year

Duties start as soon as that member of staff is employed. This is called the Duties Start Date.  Employer must act immediately.

There is a postponement period for the start of contributions.  This can only be selected within 6 WEEKS of the employers “Duties Start Date”. A significant cost saving measure.

Contact WPD for a quote on 0113 457 4563 or e-mail info@wpd.email for more information.

FORMER DIRECTOR ONLY COMPANIES NOW WITH EMPLOYEES

Ongoing Compliance is a legal obligation for every employer.  As soon as an employers circumstances change, they must take action.

Unfortunately, employers are not realising this and relying on their payroll company or accountant to let them know if they have any obligations.  If an employer fails to enrol an eligible (earns £10000 a year or more) member of staff into a pension scheme, they MUST pay backdated employer and employee contributions, even if they choose to opt out (a refund would be made the following month).  This is can be a hugely significant amount of money.

WPD offers a free Pension Audit Service for accountants (where you manage payroll) so we can ensure your employers are meeting their legal responsibilities.

To understand the risks of non-compliance, please click here

Speak to WPD about any employers that fall into this category and we will see how we can help.  It is against the law for employers not to take action when they have new members of staff.

STRUGGLING COMPANIES

If you have an employer that completed the Auto Enrolment legislation themselves but is now struggling, WPD can help take over their existing arrangement and complete an audit to bring them up to date and manage their ongoing responsibilities.

Speak to WPD on 0113 457 4563 to discuss further.

Your quote
Initial
£excl. VAT WPD Fees
£ Available Cost Savings
Ongoing
£excl. VATper month WPD fees
£per annum Available Cost Savings

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We’ve sent you a bespoke auto enrolment Project Plan by email to help you understand your auto enrolment duties and how Workplace Pensions Direct can help you get compliant, and stay compliant.

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*Monthly fee initial 24 month contract: See Fees for details

Assumptions: 2016/2017 tax year – £26,500 average pay – 15% average staff turnover. Available ongoing cost savings are from salary exchange, earnings definition, postponement for new starters, employee charges, employee lost investment return, and employer charges.

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Because of the size of your company, we can generate a bespoke quote based on 50 or more employees. Please get in touch with us by contacting us through the button below, and we’ll return with a bespoke quote and fee breakdown the same day.

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Fill in your details below and we will e-mail you our Project Plan and Quotation.  If you have any questions or special requirements, please phone us on 0113 457 4574.