Following our earlier post regarding pension reforms for small businesses, we can confirm that The Department of Work and Pensions (DWP) has announced a further delay for auto-enrolment.
The updated date for introduction of the revised pension scheme for employers with fewer than 50 employees (small businesses) will be delayed until 1 June 2015.
The Pensions Act 2008 creates a new pension scheme of auto enrolment, under which employers will have to automatically enrol all ‘eligible jobholders’ into a qualifying workplace pension scheme (”QWPS”) if they are not already enrolled in a workplace pension scheme. Under the new scheme both the employer and employee will be required to make contributions to the QWPS. This is likely to be expensive and time-consuming for many employers.
The Pension Regulator should write to you 12 months before the changes affect your business and send you a reminder about 3 months before the changes come into effect.
We at Magenta will also be keeping a good eye on what is happening and will keep you informed and assist you in ensuring compliance with the new regulations.
Magenta Accounts
Unit 2A Poles Copse
Poles Lane
Otterbourne
Winchester
SO21 2DZ
Tel: 01962 717498
Mob: 07795 974685
email: info@magenta-accounts.co.uk
Wonderful, friendly service. Thank you so much for looking after us!
Faye Chandler, Oliver Chandler Limited
I would gladly recommend Keeley to anybody who is looking for a conscientious, detailed and hard working accounting professional. Both individually, during her career before Magenta, and now as part of the wider Magenta Accounts team Keeley has looked after my financial well-being over the last fifteen years, and has done it exquisitely well. In fact, so happy am I to recommend Keeley, that four of my closest friends now have their company finances managed by Keeley's safe hands at Magenta.
Mike Boreham. Managing Director, Quiddity Solutions Limited
Magenta have handled our payroll and invoicing for three years, and have had an extremely positive impact on Semantic. Between them the team now handle all my personal and professional needs.
Nick Warren. Managing Director, Semantic Limited
Keeley has handled all my tax affairs for many years and I cannot speak highly enough about the professional level of service she has provided. Her efficiency and knowledge mean that my tax affairs are handled swiftly and competently making the whole experience pleasurable and cost effective.
Linda Green
Just a note to say how impressed I have been with Magenta Accounts and the service that you have provided me within my first 6 months of setting up my business. With being a new business, making sure I generate income immediately is vital, so by knowing that you are taking away of all my financial duties from me such as making small payments to providing monthly management accounts allows me to focus more of my time on other aspects such as growing the business and generating revenue. Each member of staff provides a personal and prompt service and it is comforting to know that whoever I speak to at Magenta Accounts, each member of staff is fully aware of my accounts and the current situation. I would fully recommend your company to any business who is looking for a service that not only helps take away the stress of looking after money, but also helps you grow as a business.
Michael Dyble, Managing Director, Dybles Limited