Marion New, Author at Melville & Co Chartered Accountants

Pension Reform & Auto Enrolment and Employment Law Updates

Marion New2015-09-04T09:25:30+00:00September 3rd, 2015|News|

Are you ready for compulsory Auto Enrolment Pension Rules? As employers you will be required to follow the required procedures and there will be penalties for non-compliance. It is therefore essential for you to know when and what action you need to take.

We are inviting you to come along and join us for our FREE seminar on Wednesday 30 September 2015 at 12:30pm.

We think this seminar could be very beneficial to you and it will be your opportunity to find out how you will be affected by the Pensions Reform and to understand your legal obligations.

If you would like to attend or need further information please give us a call on 01229 434000.

Payroll Real Time Information (RTI)

Marion New2015-08-27T08:06:19+00:00August 27th, 2015|Useful Information|

We set out below details of how payroll information has to be submitted to HMRC under Real Time Information (RTI).

RTI – an introduction

Under RTI, employers or their agents, are required to make regular payroll submissions for each pay period during the year detailing payments and deductions made from employees each time they are paid. There are two main returns which and employer needs to make which are detailed below.

Full Payment Submission

The Full Payment Submission (FPS) must be sent to HMRC on or before the date employees are paid. This submission details pay and deductions made from an employee. The FPS must reach HMRC on or before the date of payment of the wages to employees.

Employer Payment Summary

Employers may also have to make a further return to HMRC each month (EPS) to cover the following situations:

where no employees were paid in the tax month
where the employer has received advance funding to cover […]

Pensions – Automatic Enrolment

Marion New2016-12-09T16:20:51+00:00August 13th, 2015|News|

The role of the employer

To encourage more people to save in pension schemes, the government has placed greater responsibility on employers to provide access to pension provision.

Up until 1 October 2012 there was no requirement for an employer to pay employer contributions into a scheme. There was also no requirement for the employee to enter an employer provided scheme.

Most employers were however obliged to designate a registered stakeholder scheme that employees could join. This obligation has been removed due to the advent of automatic enrolment (or auto enrolment).

What is automatic enrolment?

Automatic enrolment places new duties on employers to automatically enrol ‘workers’ into a work based pension scheme. The main duties are:

assess the types of workers in the business
provide a qualifying automatic enrolment pension scheme for the relevant workers
write to most of their workers explaining what automatic enrolment into a workplace pension […]