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Why you can’t afford to miss the auto enrolment deadline

by Bill Monty | May 10, 2017
  • A number of UK businesses are putting auto enrolment on the backburner under the false perception that it is unimportant. According to studies, 46% of small businesses signed up dangerously close to the deadline in the first quarter of 2017, and another 25% missed the deadline completely. One cannot simply bury their head in the sand over this issue and if you haven’t yet enrolled your employees, you need to start taking steps before you’re found to be non-compliant.
    deadlines clocks two humans

    Does my business need to be concerned about auto enrolment?

    Since October 2012, all large companies have been required to enrol their employees in a workplace pension scheme. They are required to contribute a percentage of their employees’ earnings toward this scheme.

    By 2018, all employers in the UK will have to have an auto enrolment scheme set up and running. See the table below for a breakdown of when your business will need to be enrolled by.

    Employer size

    Due date

    250 members or more

    1 February 2014

    50 to 249 members

    1 April 2015

    30 to 49 members

    1 October 2015

    Less than 30 members

    1 April 2017

    Employers without PAYE schemes

    1 April 2017

    New employers/companies formed between Apr 2012 to Mar 2013

    1 May 2017

    New employers/companies formed between Apr 2013 to Mar 2014

    1 July 2017

    New employers/companies formed between Apr 2014 to Mar 2015

    1 August 2017

    New employers/companies formed between Apr 2015 to Dec 2015

    1 October 2017

    New employers/companies formed between Jan 2016 to Sep 2016

    1 November 2017

    New employers/companies formed between Oct 2016 to Jun 2017

    1 January 2018

    New employers/companies formed between Jul 2017 to Sep 2017

    1 February 2018

    New employers/companies formed from Oct 2017

    Immediate duty

    The UK has just entered into a new period for auto enrolment, as only employers incorporated after April 2012 have staging dates between now and February 2018. This means that start-up businesses are in now in the spotlight.

    Why auto enrolment is important

    Employers who miss the deadline will now be issued with fixed penalty notices by The Pensions Regulator. Left ignored, these notices can escalate into court action. This will have negative implications on your company’s credit file. This will in turn hamper your ability to secure funding in the future.

    Employers who don’t sign up their employees for auto enrolment are also liable for fines up to £5,000.

    How Sable International can help you

    Forward planning and commitment are vital when it comes to auto enrolment. Our wealth team can proactively manage your auto enrolment programme to ensure that not only you are enrolled in time, but that your pension scheme achieves the optimal pension outcomes for your employers.

    Our auto enrolment services covers the full set-up, implementation, communication, and ongoing compliance oversight.

    Our auto enrolment consultants will be happy to answer any questions you may have. Get in touch with us on +44 (0) 20 7759 7519 or wealth@sableinternational.com

    We are a professional services company that specialises in cross-border financial and immigration advice and solutions.

    Our teams in the UK, South Africa and Australia can ensure that when you decide to move overseas, invest offshore or expand your business internationally, you’ll do so with the backing of experienced local experts.

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