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If you employ one or more members of staff, then you will need to enrol that person(s) into a Work Place Pension scheme. The vast majority of businesses in the United Kingdom will be required to do so by 2018. A failure to do so results in a hefty penalty imposed by the Pensions Regulator.
If you are a Leeds based business, we hope you heed this warning.
Call The Financial Management Centre in Leeds today on 0113 238 5097.
You must enrol each eligible employee on to an approved pension scheme. You, your employee and the Government all contribute to this pension. Assessing who is and who is not eligible is fairly complicated, although we offer guidance below.
Here's some of the questions you may hold regarding your obligation to enrol eligible employees into a pension scheme:
When you contact The Financial Management Centre in Leeds, our auto-enrolment and workplace pension advisors will answer all of these questions, and more.
Your obligations under the auto-enrolment scheme is ongoing. You must deduct pension contributions from your employees' wages on a weekly or monthly basis. The Financial Management Centre offers a competitively priced payroll service, thus making sure your continued obligations under the scheme are met.
Employee eligibility for automatic pension contributions fluctuates with reference to employees' age, the amount of hours worked each week and overall earnings. If you lack professional assistance in this area, it's likely you will not be aware when an event occurs that triggers an employee's eligibility for automatic pension contributions.
Unfortunately, the Pensions Regulator will not allow you to plead ignorance should you fail to recognise when an employee becomes eligible for automatic pension contributions. Your failure to enrol employees for pension contributions as soon their eligibility becomes apparent will surely lead to a costly penalty.
When you entrust your payroll to The Financial Management Centre in Leeds, our advisors assess the eligibility of each of your employees each time we administer your payroll function. For the layperson, this requirement to reassess each and every employee each time payroll is run is onerous and likely to result in costly errors.
Our advisors also communicate with your pension providers on your behalf. This is required each time a new eligible employee joins your ranks, or when a staff member leaves your employment.
Clearly, the auto-enrolment obligation is time-consuming and one with clear potential for errors. The Financial Management Centre's auto-enrolment services allow your to focus on your business without the risk of incurring unnecessary penalties.
When you select The Financial Management Centre in Leeds to administer your auto-enrolment obligations, we go that extra mile to ensure both you and your employees get the best deal possible.
For instance, we select a pension scheme that is most beneficial to the interests of you and your employees. Where necessary, we also convert your existing pension setup into one that is approved by the Pensions Regulator. We also take care of all opt-in and opt-out notices and we register you for auto-enrolment with reference to your 'staging date.'
As mentioned above, we re-assess each of your employees' eligibility for automatic pension contributions each time your payroll is engaged.
Now we summarise the key benefits you derive from engaging with The Financial Management Centre's auto-enrolment service in Leeds:
Learn more about The Financial Management Centre's auto-enrolment services today by calling our Leeds office on 0113 238 5097. Alternatively, contact us through the website and a member of our team will reply to your message shortly.
Leeds Central & South
Dear Nichole, At digitalARC we strive to set the highest standards in client service and it is something we expect in those who supply us. Having used the services of The Financial Management Centre recently for my bookkeeping requirements for digitalARC, I cannot recommend you highly enough; you dealt with the work quickly, efficiently, professionally and all for a very fair cost. I had slipped a long way behind with my bookkeeping...
Dear Nichole, When I set up business I undertook looking after my books myself and as I started getting busier not only was the monthly bookkeeping taking longer and longer than expected, it was the one job I dreaded. I soon realised that I need to outsource this non-core activity to an experienced and trustworthy supplier. Since then I have used two or three different bookkeepers to help get organised. When I switched to TFMC the d...
Dear Nichole, I would like to personally thank you for your company's customer service and professionalism, the staff at The Financial Management Centre are always friendly and helpful even when I leave things to the last moment. Your services are the most cost effective way I found to run our wages and would not have any hesitation recommending you to any of our clients or friends. Keep up the good work. Yours Sincerely
Dear Nichole, I just want to express my appreciation for the excellent work you carried on behalf of Creative Installations Ltd. Bookkeeping and accountancy work are always at the bottom of my list when it comes to working in the office and as a result get left until the last minute and this year was no exception. So with HMRC and Companies House breathing down my neck I asked if you could come to the rescue. Well you did! And not o...
Mix 'n' Twist Bartending provides a premium and professional bartender and mobile cocktail bar hire service. After two years of dramatic growth it was clear I needed professional financial support and that's when I came to Nichole. As I am extremely unorganised Nichole and her team sorted the confusion of numbers and many receipts out. In the initial meeting Nichole provided advice to ensure we went forward using the correct accounting...
Dear Nichole, At Rattle Media we pride ourselves in being experts in our field. We also believe that, as exerts, we should be able to help our clients understand what we do, making sure they get the most out of our services. As a new business owner, I am not an expert in finance. While I have managed our accounts for the first two years, I have struggled to get to grips with the basic concepts that a financial expert would see as trivi...
Dear Nichole, I am writing to thank you for the excellent bookkeeping service you have provided to my business. Before undertaking your service my accounting was in a bit of a mess as it had been neglected for a few months by my previous bookkeeper. You and your team soon got everything back into place and were able to meet the tight deadline set. On top of this you have already begun the process of helping me to recover over a &pou...
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