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Auto enrolment for a new business

Auto enrolment for a new business

The auto enrolment staging process is coming to an end and a new legislation is going to take place.

Before the 30 September 2017 new businesses were given a staging date up to the 1 February 2018, however this is all about to change.

Any new business that is established on or after the 1 October 2017 will not have a staging date, but will now however have employer duties under the workplace pension legislation. These duties will apply from the first day of employment.

When a new company is about to employ its first employee they will need to take certain steps in preparation for taking on the new employee, such as determining whether they need to become a registered employer with the HMRC, or taking out liability insurance. Getting ready for auto enrolment is just one of these steps.

As soon as the first employee commences employment with a newly set up employer, the employer should be ready to comply with their legal duties.

As new employers after the 1 of October 2017 will not have a staging date, they will need to get started with the pension regulator by telling them who should be their point of contact for automatic enrolment.

For more information Visit http://www.thepensionsregulator.gov.uk/

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