Automatic Enrolment: Act now, it’s the law! Regulator clamps down on non-compliance

Don't Get Penalized Red 3D Words Fee Punishment Foul Rule BreakiIf your business is due to comply with the Automatic Enrolment regulations during the next few months, news that the regulator has started to issue fines will certainly make your ears prick up. The Pensions Regulator has revealed it that in April (the latest date for which figures are available) it issued three firms with fixed penalty notices, each carrying a fine of £400. In addition to the three fines, the regulator also issued a further 162 compliance notices giving rogue employers ...

Automatic Enrolment: Small firms face potential cashflow catastrophe

cash flowSmall business owners have been warned that failure to comply with Automatic Enrolment legislation could have a catastrophic effect on their cashflow. The research from Standard Life, has highlighted the cost to small businesses of not complying with the legislation, which could run into tens of thousands of pounds. Potential costs include: A fixed penalty notice for non-compliance of up to £400 An escalating penalty notice, again for non-compliance, of between £50 and £10,000 per day, depending on the number of employees you have A civil penalty notice, where contributions are not paid, of ...