• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Pensions Regulator - auto enrollment - compliance letter

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Pensions Regulator - auto enrollment - compliance letter

    I'd like to ask for some advice

    My ltd company contracted from mid 16 through a less sucessful period from May 17 through to closure in early 2018.

    I'm currently on a FTC to Mar 19 and if I return to proper contracting, it would probably be via an umbrella for 'less hassle'.

    I read some of the forum posts about auto enrollment at the time and I thought the consensus was to ignore it. I had planned to arrange some pension provision, but things turned down before I got that sorted.

    Now, the ltd company is closed (or has a couple of weeks to go) and I have a pensions regulator compliance letter warning me I have missed a 31 may 18 deadline and to get my declaration in or get fined.

    Please may I ask for your advice

    There are no unhappy enployees and no money to pay any pensions contributions to schemes that have not been started.

    G

    #2
    It's not hard to work out what to do really is it?
    http://www.thepensionsregulator.gov.uk/en/employers

    I'm sure the letter will tell you what to do as well.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

    Comment


      #3
      Originally posted by GDL View Post
      I'd like to ask for some advice

      My ltd company contracted from mid 16 through a less sucessful period from May 17 through to closure in early 2018.

      I'm currently on a FTC to Mar 19 and if I return to proper contracting, it would probably be via an umbrella for 'less hassle'.

      I read some of the forum posts about auto enrollment at the time and I thought the consensus was to ignore it. I had planned to arrange some pension provision, but things turned down before I got that sorted.

      Now, the ltd company is closed (or has a couple of weeks to go) and I have a pensions regulator compliance letter warning me I have missed a 31 may 18 deadline and to get my declaration in or get fined.

      Please may I ask for your advice

      There are no unhappy enployees and no money to pay any pensions contributions to schemes that have not been started.

      G
      What is the risk if you ignore it and complete company closure?

      Comment


        #4
        thanks for the contrasting advice

        from northernladuk, follow the law, recognise you didn't comply and pay whatever needed - a little bit of a challenge with the accountant almost gone as well.

        from old greg - carry out a risk assessment, consider that they may have a lot of people to chase and maybe just pay a fine

        I appreciate both poinths of view, but would also welcome comment from what people have actually chosen to do and any results.

        thanks again

        g

        Comment


          #5
          Originally posted by GDL View Post
          from northernladuk, follow the law, recognise you didn't comply and pay whatever needed - a little bit of a challenge with the accountant almost gone as well.

          from old greg - carry out a risk assessment, consider that they may have a lot of people to chase and maybe just pay a fine

          I appreciate both poinths of view, but would also welcome comment from what people have actually chosen to do and any results.

          thanks again

          g
          But are they chasing you personally, or the legal entity that is your soon to be dissolved company?

          Comment


            #6
            thanks old greg - soon to be dissolved company

            old Greg, were part way through the 3 months after submitting closure form - so relatively soon.

            I've also read that you only have to enrol if employee earnings over 10k - don't think that was the case in the final 12 months

            G

            Comment


              #7
              Warning. Spoiler alert..

              You don't have any employees...

              Read the link I sent you.... Please...
              'CUK forum personality of 2011 - Winner - Yes really!!!!

              Comment


                #8
                Originally posted by northernladuk View Post
                Warning. Spoiler alert..

                You don't have any employees...

                Read the link I sent you.... Please...
                NLUK, your view is appreciated

                But what have people actually done in this tough situation?

                Comment


                  #9
                  Originally posted by MrButton View Post
                  NLUK, your view is appreciated

                  But what have people actually done in this tough situation?
                  Ideally there would be some kind of qualified professional who is typically engaged to advise on such matters.

                  Comment


                    #10
                    Originally posted by Old Greg View Post
                    Ideally there would be some kind of qualified professional who is typically engaged to advise on such matters.
                    Or use that string of seemingly random numbers that is associated with the sender of the letter.
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

                    Comment

                    Working...
                    X