There has been a great deal of media coverage recently regarding the changes to Workplace Pensions. The new law is only applicable for Company’s with more than 1 Employee.
If your Limited Company employs 2 or more staff you must automatically enrol the workers into a workplace pension scheme and contribute towards it if they:
- are aged between 22 and State Pension age
- earn more than £10,000 a year
- work in the UK
This is called automatic enrolment, you will need to take steps to make sure they’re enrolled. Each employer has a staging date when this has to be completed by and this can be found here and requires entering your PAYE Reference number.
You will be asked to nominate a contact which should be yourself in the first instance for all communications to be sent.
If you have any further questions regarding this please do not hesitate to contact your Account Manager.
Chancellor announces that IR35 reform will be scrapped
IR35 reform in both the private and public sectors is to be repealed, the Chancellor announced in the mini Budget, held on Friday 23rd September.
This surprise development made up just one of many welcome tax changes, as Liz Truss’s new-look government promised to start “a new era” and unleash the potential of UK business.
Why is accounting for a start-up business important?
Why do some start-ups succeed while others are doomed to fail?
It’s an often-quoted statistic that around 60% of businesses fail in their first three years – with 20% folding within just twelve months.
Why freelancers should hire an accountant
In the world of work, freelancing is an increasingly popular option. The promise of flexibility, unlimited earning potential and complete control over the way you work is a hugely attractive prospect for many.