How can accountants capitalise on auto enrolment?
2016 saw auto enrolment enter its fourth year. Since beginning in 2012, the UK’s biggest companies have staged for auto enrolment, starting with the largest. As we begin the fourth year, it’s now the turn of the UK’s 5.4 million small and medium-sized businesses (SMEs) to begin their journey to workplace pension reform compliance.
In just the 12 months between April 2016 and April 2017, The Pensions Regulator predicts there will be 570,000 SMEs staging for auto enrolment, or an average of 47,500 per month, which is a lot of work. As accountants up and down the country will also be aware, the Government recommends that businesses begin preparations for auto enrolment 12 months before their staging date.
So, how can accountants capitalise on this opportunity?
Auto enrolment is incredibly complex, so it’s only natural that your clients will have questions about both the legislation itself, and how to implement the changes within their company to help ensure compliance.
We’ve developed the IRIS Accountancy Kitbag which is packed full of helpful content for your practice to use how you see it and to share with your clients.
Content includes a free 8-page guide titled “making the most of automatic enrolment: how can accountants capitalise on this new opportunity?” which is full of helpful guidance. For example, did you know that research from NEST found that over 94% of SMEs who participated in their research stated that they would be seeking financial advice when choosing a pension provider? By educating yourself and your practice on the legislation and the benefits of auto enrolment, you could potentially exploit a gap in the market and attract new clients.
Additionally, there are 12 other free guides, a handy payroll factcard for 2016/17, a 10-page research paper which looks into awareness of auto enrolment amongst accountants, videos, and much more.
Download your free IRIS Accountancy Kitbag today and gain access to a wealth of content for your practice.