As we have previously mentioned here, auto-enrolment of staff in workplace pension schemes now applies to even the smallest of employers, although there are exclusions. The current minimum contributions are 2%, with at least 1% from the employer. These are scheduled to increase to 5%, at least 2% from the employer, from 6 April 2018.

The contributions will then increase to 8%, at least 3% from the employer, from 6 April 2019. Employees will have a further opportunity to opt out of auto-enrolment, although this must not be encouraged by the employer.

As with all of our tax tips and web pages this information is necessarily summarised and of a general nature.  If you would like detailed specific advice please contact us.