Auto-Enrolment For Business

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Pearls Accountants are unique as you get a personal one to one service and they always answer your queries in a fast and professional manner.

Then i first opened up as a limited company i was clueless, but Pearls Accountant kindly assisted me the best way so i felt at ease and understood how the operation works.

Everything was explained clearly in detail and i could ask as many open questions and they where happy to help.
How bigger team is on board so its quicker response turnaround.

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Naila Mughal Entertainment

Auto-Enrolment for Businesses

Auto-enrolment has been proposed to support employees to ensure that are automatically registered to join a workplace pension scheme. The new framework will also provide an easy solution for small businesses that have only begun to provide their employees with a pension scheme. Both workers and employers can make contributions to their workplace pension.

Minimum Employer Contributions

(As proposed by DWP for 2017-2018 Tax Year)

There are certain guidelines as to the minimum contribution an employer must contribute to an employee’s workplace pension based on an employee’s ‘qualifying earnings’.

  • Auto-enrolment occurs if an employee is 22 years of age or over (up to State pension age) and earns £10,000 a year or more. Employees are entitled to employer contributions as well as making their own contributions.

However Auto-enrolment does not occur in the following situations:

  • If an employee is over 22 years of age (up to State pension age) and earns between £5,876 -£10,000 a year then they can ask to be registered and are entitled to employer contributions
  • If an employee is over 22 years of age (up to State pension age) and earns up to £5,876 a year then they can ask to be registered but are not entitled to employer contributions
  • If an employee is under 22 years old and earn over £5,876 they can be asked to be registered and are entitled to employer contributions
  • If an employee is over the State Pension age and earn up to £5,876 a year then they can be asked to register but are not entitled to employer contributions

 

Minimum Pension Contributions by Employees

For the 2017-2018 tax years, an employee will contribute a minimum rate of 1% of their earnings over the threshold of £ 5,876 up to the £45,000. A rise in the minimum contribution rate will occur over the next two years.

This rate will rise to 3% in April 2018 and then 5% in April 2019 if approved by Parliament (see table below). If an employee is not Auto-enrolled then they can be re-assessed every month once their employers pension scheme is up and running. If they choose not to be registered into a workplace pension scheme, then they need to inform the pension company itself in writing as well as their employer. After 3 years, they will be re-assessed and if they meet the criteria for Auto-enrolment then they will be automatically registered for a workplace pension scheme.  

Phasing PeriodEmployer Minimum ContributionTotal Minimum Contribution
Before 5 April 20181%2%(including 1% staff contribution)
6 April 2018 to 5th April 20192%5%(including 3% staff contribution)
6 April 2019 onwards3%8%(including 5% staff contribution)

Source:www.thepensionsregulator.gov.uk

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020 8582 0076

LONDON ACCOUNTANTS

We have offices all over the London area, including Covent Garden, which gives you a central accountancy hub in London’s famous West End district. As a London accountants, we offer professional accountancy services to clients all over the nation’s capital and the surrounding areas, working with a range of businesses, sole traders, startups, landlords, and contractors in order to streamline their tax liability and bookkeeping procedures.

Ground Floor, 90 Long Acre Covent Garden, London WC2E 9RZ

EAST LONDON ACCOUNTANTS

Our East London accountants firm gives those in East London access to some of the finest accountants around. Our accountants in Canary Wharf is right in the heart of London’s financial district. We work with clients of all shapes and sizes, including small-to-medium-sized businesses, startups, landlords, and contractors. Our professional East London accountants pride themselves on their expertise and work ethic, providing you with stellar customer service every time.

29th Floor, One Canada Square, Canary Wharf, London, E14 5DY

HOUNSLOW ACCOUNTANTS

Pearl Accountants has offices all over London, with one of our most prominent offices being located in Hounslow, West London. We are experienced accountants in Hounslow, acting as business growth accountants for the majority of our clients due to our ability to scale businesses and help to drive their growth. We are dedicated to serving companies of varying sizes, from individual sole traders to small and medium-sized businesses across the UK.

Quest House, Ground Floor, 125-135 Staines Road, Hounslow TW3 3JB

KINGSTON ACCOUNTANTS

We have over 30 years of accounting experience in the Kingston area, using our eclectic combination of traditional accounting processes and innovative accounting software in order to bring our customers the very best in accounting and customer service. We act as business advisory accountants, providing our customers with consultations that advise them on the best ways to grow their business while keeping their accounts and tax liabilities in order.

Causeway House, 13 The Causeway, Teddington, Kingston TW11 0JR

HARROW ACCOUNTANTS

We are one of the most prominent accountancy firms in London, with offices all over London. As a result, one of our offices is based in Harrow, and is located around the Park Royal area. Pearl Accountants has over 30 years of experience as Harrow accountants, serving our clients and helping them to succeed in their personal and professional lives.

Suite 618, Crown House, North Circular Road, Park Royal, NW10 7PN

STAINES ACCOUNTANTS

Our accountants in Staines are here to serve you, with our 30 years of experience in providing bespoke accountancy services for landlords, businesses, contractors, startups, and much more. Here at Pearl Accountants, we specialise as business advisory and business growth accountants, meaning that we have the accountancy knowledge, expertise, and experience to provide commercial consultations and advise you on how to grow your business whilst minimizing your tax bills simultaneously.

Rourke House Watermans Business Park The Causeway Staines TW18 3BA

LONDON ACCOUNTANTS

We have offices all over the London area, including Covent Garden, which gives you a central accountancy hub in London’s famous West End district. As a London accountants, we offer professional accountancy services to clients all over the nation’s capital and the surrounding areas, working with a range of businesses, sole traders, startups, landlords, and contractors in order to streamline their tax liability and bookkeeping procedures.

Ground Floor, 90 Long Acre Covent Garden, London WC2E 9RZ

EAST LONDON ACCOUNTANTS

Our East London accountants firm gives those in East London access to some of the finest accountants around. Our accountants in Canary Wharf is right in the heart of London’s financial district, making it an ideal home for our accountancy firm. We work with clients of all shapes and sizes, including small-to-medium-sized businesses, startups, landlords, and contractors. Our professional East London accountants pride themselves on their expertise and work ethic, providing you with stellar customer service every time.

29th Floor, One Canada Square, Canary Wharf, London, E14 5DY

HOUNSLOW ACCOUNTANTS

Pearl Accountants has offices all over London, with one of our most prominent offices being located in Hounslow, West London. We are experienced accountants in Hounslow, acting as business growth accountants for the majority of our clients due to our ability to scale businesses and help to drive their growth. We are dedicated to serving companies of varying sizes, from individual sole traders to small and medium-sized businesses across the UK.

Quest House, Ground Floor, 125-135 Staines Road, Hounslow TW3 3JB

KINGSTON ACCOUNTANTS

We have over 30 years of accounting experience in the Kingston area, using our eclectic combination of traditional accounting processes and innovative accounting software in order to bring our customers the very best in accounting and customer service. We act as business advisory accountants, providing our customers with consultations that advise them on the best ways to grow their business while keeping their accounts and tax liabilities in order. Our accountants in Kingston upon Thames are dedicated to helping you exceed with your business.

Causeway House, 13 The Causeway, Teddington, Kingston TW11 0JR

HARROW ACCOUNTANTS

We are one of the most prominent accountancy firms in London, with offices all over London. As a result, one of our offices is based in Harrow, and is located around the Park Royal area. Pearl Accountants has over 30 years of experience as Harrow accountants, serving our clients and helping them to succeed in their personal and professional lives.

Suite 618, Crown House, North Circular Road, Park Royal, NW10 7PN

STAINES ACCOUNTANTS

Our accountants in Staines are here to serve you, with our 30 years of experience in providing bespoke accountancy services for landlords, businesses, contractors, startups, and much more. Here at Pearl Accountants, we specialise as business advisory and business growth accountants, meaning that we have the accountancy knowledge, expertise, and experience to provide commercial consultations and advise you on how to grow your business whilst minimizing your tax bills simultaneously.

Rourke House Watermans Business Park The Causeway Staines TW18 3BA

Accountants London
Company Registration No. 07078392