Changes to Auto Enrolment
Auto enrolment is entering it’s next phase. Prior to 1st October 2017 employers had a staging date when their legal duties commenced. For new employers employing a person for the first time after 1st October 2017 will have legal duties beginning as soon as they employ their first employee.
From 1st October 2017 as soon as your PAYE scheme has been set up with HMRC then The Pensions Regulator will write to the employer.
The first thing to do is inform The Pensions Regulator (TPR) who the point of contact is.
If you only have directors with no employment contracts, and no other employees then your company will be exempt from auto enrolment. However you must inform The Pensions Regulator before you are due to complete the declaration of compliance.
When the legal duties of the employer begins you must assess your staff, and write to them. For a list of what your legal duties are and the deadlines go to The Pensions Regulator website. You will need the letter code from the letter sent to you from The Pensions Regulator and your PAYE reference.
Employers will need to complete a declaration of compliance within 5 months of their duty start date. To complete the declaration of compliance you will need details of the pension scheme you will be using and details of your employees joining the pension scheme.
There are penalties for non compliance so it’s very important that you know what is required of you.