Sharp rise in fines for
auto-enrolment failures
More than 3,700 small
businesses were issued with penalties between July and September for failing to
enrol staff in a workplace pension. The figure compares with 861
in the previous three months, prompting concerns that firms are struggling to
cope with auto-enrolment. Overall, more than 26,000
employers have been issued with compliance notices since auto-enrolment began
in 2012. Frequent reasons given for non-compliance
include confusion between a business and its payroll administrator, illness and
being short-staffed. None of these explanations would result in a fine being
waived, the regulator said.
We can assist in linking your payroll system to a managed
pension scheme with proactive advice on the choice of pension and how best to
mitigate the costs for the business as well as highlighting the benefits for
your employees. It`s no longer optional for businesses to have a workplace
pension and you may as well engage with the staff whilst it is being
implemented. Evidence suggests this improves staff retention.
Stephens Accountants
Southgate Business Centre,
32 Gillygate,
Pontefract.
WF8 1PQ
Telephone: 01977 791757
FAX: 01977 795366
E-mail: info@stephensaccountants.co.uk
