Don't fall foul of new pension rules
Businesses in Devon face severe financial penalties if they fail to take action in preparation for the introduction of the Government's compulsory workplace pension scheme, called auto-enrolment.
Under Auto-Enrolment every employer with at least one eligible member of staff must enrol them into a workplace pension scheme and contribute towards it.
The process might be relatively simple, or much more complex depending on how many employees are affected. To help business owners navigate this potentially difficult task Thomas Westcott Chartered Accountants are holding seminars across Devon, including one in Plymouth.
"The fact is that every UK employer will be affected by this," said Stuart Carrington, lead partner for Auto Enrolment at Thomas Westcott Chartered Accountants.
"The changes might be as little as sending details to The Pension Regulator (TPR) about your workers or, more likely, it could be much more complex and financially challenging, depending on how your workers fit in with the new rules."
He added that, in either case, employers must take action now or be exposed to potentially severe penalties.
"By now you should have been sent a letter by TPR confirming your Staging Date," he said.
"As an employer you must be ready for the new rules by then -TPR are suggesting that planning should start up to a year in advance.
"Failure to be ready could be expensive in terms of penalties and time spent in sorting out future problems."
If you want to know more about your staging date, what you need to do, when you need to do it and how to go about it, then these seminars, where Thomas Westcott's experts will be on hand to provide help and advice, are for you:
- Wednesday September 2 - Axminster Football Club, Tiger Way, Chard Road, Axminster
- Tuesday September 8 - Barnstaple Hotel, Braunton Road, Barnstaple
- Monday September 14 - Cow Shed Café, New Market Road, Holsworthy
- Tuesday September 22 - Exeter Golf & Country Club, Topsham Road, Exeter
- Thursday September 24 - Best Western, Blundells Road, Tiverton.
- Tuesday September 29 - Duke of Cornwall, Millbay Road, Plymouth.
The schedule for all seminars is:
5.30pm-6pm: arrival
6pm - 7pm talks & questions
7pm - buffet
If you would like to attend please email events@thomaswestcott.co.uk or call 01392 288555.
