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Payroll and Automatic enrolment - a brief outline.
Payroll and Automatic enrolment – a brief outline.
A new law called ‘automatic enrolment’ means that every employer must automatically enrol workers into a workplace pension scheme if they:
- are aged between 22 and State Pension age
- earn more than £10,000 a year
- work in the UK
Some larger employers have already been enrolled. You may find it of benefit to use the Pensions Regulator staging date calculator to check if the new law applies to you and when you’ll be enrolled, if you haven’t already done so. You can also register here to receive reminders and information going forward.
Employers may have to make contributions for each employee depending on the type of workplace pension scheme.
Outsourcing your payroll makes light work of auto enrolment. Once your pension scheme has been set up, the relevant information is input into the payroll programme and everything is calculated automatically.
If you need any help with your payroll and auto enrolment, Fare Pay & Books can help you with your weekly or monthly payroll. You will receive a payslip for each employee and the relevant financial reports so that you can input the information into your accounts.
So, if it sounds appealing to have one less job to do, please do not hesitate to contact me for a no obligation quotation for your company.
Katherine Fare, FMAAT & AAT Licensed Member in Practice.
Proprietor of Fare Pay & Books (Location Preston, Lancashire).
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