Auto Enrolment Epsom
As an employer in the Epsom area, you will no doubt have heard about auto enrolment and will know that it will effect some of your work force. Auto enrolment isn’t something to worry about, but you can’t afford to ignore it either. To find out more and get started, contact us here at Bookkeeping Synergy. We’d be delighted to talk to you about how auto enrolment will affect you and your Epsom staff.
If you don’t ensure you’re meeting the new rules for workplace pensions by the ‘staging date’ which the Pensions Regulator will have communicated to you (which will be 1 February 2018) at the latest, you could be subject to penalties, including:
- fines for not complying with the rules
- having to backdate your contributions to the date you should have set up your auto enrolment scheme
- court action for recovery of any fines you don’t pay
In short, keep compliant to avoid penalties! and be sure you are ready for your Epsom business to be up and running with auto enrolment from day one. If you already offer a workplace pension scheme, you might find it already meets the rules and you simply need to automatically enrol all eligible staff into it. If you don’t already have a workplace pension scheme, you could find one that complies with the rules or choose to join NEST, which is the government-backed scheme that many Epsom employers have chosen to join.