New employer legislation on its way
October 2012 seems like a long way off doesn’t it. But the pension reform that come into force next year could have a major financial impact on your business and you need to start thinking about how to deal with it today.
By this time next year all businesses will have to enrol qualifying employees into a pension scheme and start making contributions on their employees behalf. The standard rate is 1% increasing to 3% by 2017, although the starting point and rate of increase may be staggered for smaller companies. In addition there will be admin costs to pay and a management overhead to consider.
If you need help understanding the impact of pensions reform on your business then remember that in addition to providing accountancy and taxation expertise Lewis Smith & Co. are regulated by the Chartered Institute of Certified Accountants to provide investment advice too. We work closely with a number of specialists providers, which means that you can get all the help you need in one go.
Call Andrew Smith or Craig Beale today on 01384 235549 to arrange a no-obligation discussion on your pension scheme options or email info@lewissmith.com
Lewis Smith & Co. – Due diligence experts for Dudley and the Black Country
