Christopher Eden
3 minutes length
Posted: 22nd June 2016

Accountants: Learn How to Bring Forward Client Staging Dates

 

 

 

The Pensions Regulator have changed their processes for businesses who wish to bring forward their staging date for auto enrolment.

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We’ve reported that 74% of the 570,000 small and micro-sized businesses due to stage for automatic enrolment this financial year plan to seek advice from their accountant or advisor. Important changes implemented by The Pensions Regulator (TPR) should be communicated to your clients, and the changes to staging dates are no different.

All businesses who are yet to stage can both bring forward their staging date, or postpone it. There are set dates which it can be brought forward to, however it can only be postponed for a maximum of three months. The dates your clients can choose from depend on whether they have staff who need to be put into a pension scheme or not according to the regulator.

There are two scenarios for businesses wishing to bring their staging date for automatic enrolment forward. TPR separate them into two groups, businesses who have staff who need to be placed into a pension scheme, and businesses who don’t:

My client doesn’t have any staff who need to be put into a pension scheme

If your client doesn’t have any staff who need to be put into a pension scheme, they can bring their staging date forward to any date.

To bring a staging date forward, you need to:

– have an existing staging date

– decide which date you want to bring the staging date forward to

– notify us on or before your new staging date

You can bring a staging date forward using the same online form as the declaration of compliance.

My client has staff who need to be put into a pension scheme

If your client does have staff who need to be put into a pension scheme, they can only choose their new date from one of the available dates in the table below.

To bring their staging date forward, your client must:

– have an existing staging date

– have contacted a pension scheme that can be used to meet their automatic enrolment duties and secured the agreement of the trustees or managers, provider, or administrator of the scheme that it will be used to meet those duties from the new (earlier) staging date

– notify us on or before your new staging date. Your client will receive confirmation of their new staging date within 24 hours. Alternatively you or your client can notify us in writing by email or letter.

You can bring a staging date forward using the same online form as the declaration of compliance.

To bring a staging date forward, your client needs their unique 10-digit letter code which appears on all communication from TPR; their PAYE reference number and their Government Gateway User ID code. If you are acting on their behalf, you’ll need the same information, but simply select ‘Acting on behalf of an employer’ after you’ve entered the above information on TPR’s website.

Get Educated to Get Ahead

The Workplace Pension Reforms offer a huge opportunity for accountants. Imagine the Government passing legislation which requires all businesses in the UK to need a service you can offer – that’s automatic enrolment. If you need any further information or resources on how to offer this core service to your clients, look no further than the hugely popular Auto Enrolment Accountancy Kitbag. This free download includes a wealth of resources and information to help your practice make auto enrolment a key part of your business strategy.

The Kitbag includes free guides, joint branded letter templates, pre-recorded webinars and more to help you first understand the legislation, and then be ready to offer a profitable service to your clients.

You can download the free Kitbag using the buttons at the top and bottom of this blog.

Download My Free Auto Enrolment Kitbag