Thornton Holmes urges employers to address this sooner than later in order to minimise the impact to their business over the next couple of years. Failure to comply for Companies of 1 to 5 employees will be a fine of £50 PER DAY & 5 to 49 employees will be £500 PER DAY!
The Government is proposing to bring in new laws from 2012 that will have a significant impact on every employer in the UK :
¢ Employers will have to pay into a pension scheme for all employees.
¢ Even with existing schemes, you may have to make changes so it complies with the new laws.
¢ Employers can use their own pension scheme to comply with these new laws or a Government scheme - the National Employment Savings Trust (NEST).
A good IFA can :
¢ Help you review your existing workplace pension scheme to make sure it will comply with, the new regulations.
¢ If you haven’t got a pension scheme yet, they can help you put one in place.
¢ help save you money using something called ‘salary sacrifice’ to offset the impact that these new laws will have on your business.
Thornton Holmes is a Director of Orchid Financial Services Ltd & The Business Club North London.
For FREE advice and information on these important changes you can contact Thornton on 0844 4140730 or email : thornton@orchidfinancialservices.com
http://www.orchidfinancialservices.com/video.htm
Orchid Financial Services Ltd is an appointed representative of L J Financial Planning Ltd which is authorised and regulated by the Financial Services Authority.
Orchid Financial Services Ltd is registered as a private Ltd Company under The Companies Act 1985 No.5509898 at Thorney Lakes, English Drove, Thorney, Peterborough, PE6 0TJ.
