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Local businesses given opportunity to learn about important pension reforms
| Author: Ashley Riley | Published: 9th June 2016 11:34 |
“The Pension Reforms have been gathering speed for over 3 years now, and are gradually reaching businesses at every level.” says Roger Eddowes, Managing Director at Essendon, “With these final staging dates now upon us, it’s important to ensure that businesses of all sizes are equipped with the correct knowledge in order to comply with the UK employment laws.”Businesses across Milton Keynes and Buckinghamshire are being given the opportunity to be ‘pension reform’ ready by a local accountancy and tax specialist.
The Government have been rolling the pension reforms out since October 2012 with the last wave of staging dates beginning earlier this month, which specifically is aimed at small and medium-sized enterprises.
The changes mean that all businesses with fewer than 30 employees, all new employers and all employers which don't currently have a pension scheme will need to make sure that they put their own auto-enrolment schemes in place.
Local firm Essendon Accounts & Tax, based in Milton Keynes, are distinctly aware of how complex the new reforms are, particularly for employers with no previous experience in the matter, so have decided to host a seminar next week for surrounding businesses, offering their expert advice on employer’s legal obligations.
“The Pension Reforms have been gathering speed for over 3 years now, and are gradually reaching businesses at every level.” says Roger Eddowes, Managing Director at Essendon, “With these final staging dates now upon us, it’s important to ensure that businesses of all sizes are equipped with the correct knowledge in order to comply with the UK employment laws.”
Taking place on Wednesday 15th June 2016 at the Milton Keynes Mercure Hotel, Abbey Hill, local employers will have access to valuable, important information, delivered by expert speakers, enabling them to leave the event with a full roster of knowledge, helping them reach their auto-enrolment requirements. The event is free of charge to attend, and will be open for registration from 9:30. The seminar will then run until 12:30, followed by a buffet, giving attendees an important chance to ask any further questions and soak up all the information provided from the experts.
“Businesses who fail to comply should be prepared for some expensive mistakes, with those who are non-compliant potentially face fixed fines of up to £50,000 and/or daily fines of between £50 and £10,000 for each day of non-compliance.” Roger Eddowes continued.
The reforms have led to plenty of questions raised by employers, particularly those who have smaller businesses, who may have not enrolled their workforce onto a pension plan previously. With all businesses having to auto-enrol their workers by 2018, which is now less than two years away, the clock is certainly ticking.
If you’re interested in attending Essendon’s free seminar, please contact Roger to secure your place via telephone (01908 774320) or email (enquiries@essendonaccounts.co.uk).
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