Auto Enrolment Pension Schemes – An Important Consideration for Every Business
As a business owner, there is so much legislation with which you have to keep up these days. Forty or fifty years ago, if you wanted to start up in business you did just that. As long as you paid the appropriate taxes at the end of the year, that was it, and everyone was happy. But today, business owners have many more things to deal with that have become law. Obviously, as business starts to expand it will need to take on employees and that means running payroll. That, of course, was always the case, but today payroll is far more complex than it used to be, particularly since the introduction of Real Time Information in 2013, which means that businesses now have to deal with taxes and reporting every time an employee is paid. However, we now also have the auto enrolment pension schemes. Payroll is difficult enough, but auto enrolment pensions are another burden on top for nearly all businesses. You have to automatically enrol eligible employees into your pension scheme. Whether th