Stress-Free Auto Enrolment Pension Services in UK
We handle every aspect of auto enrolment pensions that includes staff assessment, scheme setup, contribution calculations, tax-saving advice, and full compliance with The Pensions Regulator. Our auto enrolment solutions in the UK ensure your business meets all legal duties efficiently and flawlessly.
Auto-Enrolment Pension Support, Fast, Simple, and Compliant
- Auto Enrolment has made retirement planning for employees easier and stress-free. It provides a greater sense of value and security for your employees. Auto-enrolment makes it important for all UK employers to make a workplace pension scheme for their employees. It allows all eligible employees to be automatically enrolled in the pension plan. Lanop Business and Tax Advisors understand the difficulties in setting up an auto enrollment pension scheme and we’re here to make it easy for you. Here’s how we simplify the enrollment pension scheme set up for your business.
Setting the Right Pension Scheme for Your Business
- Our chartered accountants will analyze your business needs for you. We select the suitable pension scheme for your business, based on the number of employees and contribution preferences.
Integrating Pension Schemes with Payroll Tools
- No matter what payroll software you are using BrightPay, Paycur, or more, we will integrate it with your pension scheme. Configuring these software, we will manage pensions contribution seamlessly.
Checking Employee Criteria to Pension Scheme
- Our chartered accountants will work with your business HR team and ensure whether each of your employees is eligible for pension schemes and list them accordingly on pension scheme management tool.
AutoEnrolment Pension Services
After setting up your auto enrolment pension scheme, we will help you calculate pension contributions accurately, ensure compliance with the UK laws, and advise you on the most tax efficient ways to contribute to pension schemes for yourself and your employees.
We assist employers with registering for auto enrolment with The Pensions Regulator and ensuring all regulations are met while setting up pension schemes. Our auto enrollment pension services include identifying and assessing eligible staff based on age and earnings criteria, ensuring that all qualifying employees are automatically enrolled into a compliant pension scheme.
Our Payroll and auto enrollment pension experts simplify pension contribution calculations by accurately assessing each employee’s qualifying earnings.
It necessitates a worker earns between £6,240 and £50,270. We apply the required total minimum contribution of 8%, comprising 5% from the employee and 3% from the employer.
For example, if an employee earns £30,000, their pensionable earnings would be £23,760, resulting in annual contributions of £1,900.80. We ensure all figures are calculated correctly to meet statutory obligations.
Basic rate taxpayers receive a 20% top-up from the government on their pension contribution. This means every £80 contribution becomes £100 in the pension fund.
For higher or additional rate taxpayers, we guide individuals on how to claim further relief through self-assessment, ensuring you receive the full tax advantages you are entitled to.
Salary sacrifice is an arrangement where an employee agrees to give up part of their salary, and the employer puts that amount into their pension instead. Because the employee's salary is now lower, both the employee and the employer pay less National Insurance.
Our auto enrolment professionals advise on salary sacrifice schemes to help your business save efficiently on NI. Moreover, employer contributions to staff pensions are claimed as a business expense, we help you utilize this aspect to help you reduce your corporation Tax.
We provide comprehensive auto enrolment pension recordkeeping, including detailed financial reports that provide employers to track pension contributions accurately.
Our auto enrolment services assist with transparent communication with employees, helping them stay informed about their pension fund performance and better prepare for retirement.
How Does Auto Enrollment Pension Scheme Work?
There is a certain threshold to qualify for the pension scheme. The UK government makes the following employees, who meet the criteria, must be enrolled in the pension scheme.
- Worker’s age is between 22 to state pension
- Worker earning more than £833
- Worker earning £192 per week
- Worker earning more than £10,000 annually
As per UK laws, an employee must contribute 5% to the pension scheme, while his employer needs to contribute 3% to the pension scheme. A worker always has the choice to opt out of the pension scheme.
Helping You Stay Compliant with Auto Enrolment Duties
Auto enrolment pension requires strict legislative duties that a business must follow. If you do not remain compliant with the regulations of setting up and managing your auto enrolment pension scheme, then the penalties are there at your doorstep. Well, you need not worry as we handle all your pension scheme task efficiently. We provide an online portal for our clients and their employees to get them notified of any legal notice and reports from the pension provider, making compliance with HMRC easy and simplified.
Why Choose Lanop Business and Tax Advisors for Auto Enrolment Services
Our Pension auto enrolment solutions in the UK include analyzing your current systems and consulting efficiently with the payroll providers. We check whether your current pension systems are compatible with the changing regulations in the UK. We will finally choose among defined contribution scheme, benefit (DB) scheme, hybrid scheme or other pension schemes that effortlessly implements with your business operations.
Additionally, we ensure accuracy and compliance with pension management. Our proactive financial reporting advises you on how the auto enrollment pension scheme has affected your business, making more informed business decisions.
