NEST: ‘Small Businesses Likely to Seek Auto Enrolment Advice’
NEST have released new statistics which could be beneficial for your accountancy practice. According to NEST, 74% of small businesses who are yet to stage for automatic enrolment plan to seek professional advice to help them prepare.
The figures from NEST also revealed that of the 1.8 million businesses due to stage between now and April 2018, 85% of them are aware of auto enrolment and their duties, whilst 63% of these businesses don’t currently offer any sort of pension scheme.
NEST are the Government-backed pension provider for the workplace pension reforms, they are legally obliged to accept new businesses. They also offer the NEST Web Services facility, aimed at simplifying the process of pension file submissions. Previously businesses would need to log-on to their online portal on NEST’s website and upload their data using the correct CSV file format. The service integrates with your IRIS payroll software and therefore submitting your pension information for auto enrolment can all be done within your software.
Once the NEST Web Services facility went live, the IRIS AE Suite™ was amongst the first to offer full integration for our users.
The figures are clear – if you make auto enrolment a key part of your strategy, the business is out there as the sheer number of small businesses seeking advice is now at nearly three quarters. By offering services such as enrolment guidance and support, as well as pensions advice your practice would really benefit.
We offer the free Auto Enrolment Accountancy Kitbag to help accountants make auto enrolment a key part of their business strategy. If yours is yet to do this, these figures from NEST should be all the incentive you need!
Download the free Auto Enrolment Accountancy Kitbag to access a range of helpful content such as letter templates, pre-recorded webinars, guides, exclusive content from The Pensions Regulator and more.
You can download the Kitbag using the button below.