employer duties under auto enrolment and the opportunity for payroll bureaus
TRANSCRIPT
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Employer Duties under Auto Enrolment and the Opportunity for Payroll Bureaus
Mind the Auto Enrolment Gap
The webinar will begin shortly...
By Paul Byrne, BrightPay
By Chris Daems, AE in a Box
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By Paul Byrne
Employer Duties under Auto Enrolment and the Opportunity for
Payroll Bureaus
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By Chris Daems
Mind the Auto Enrolment Gap
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Q&A SessionQuestions Tab or #BPWebinars
CompetitionTwo BrightPay 2015/16 bureau licences
On DemandThis session is being recordedREC
Q&A
WIN
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Employer duties under Auto Enrolment and the opportunity for Payroll Bureaus
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Paul Byrne• Accountancy Practice for 20 Years• Payroll software development• Expanded into the UK – BrightPay &
Bright Contracts• 80,000 employers across the UK &
Ireland use our products
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Agenda• Small & Micro Businesses• Auto Enrolment as a Service• Automate Auto Enrolment Duties• Increase Profits from Auto Enrolment• BrightPay’s Key Take Aways
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Small and Micro Businesses
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AE Overview• Government initiative – save for later life
• All eligible employers must automatically enrol workers into a workplace pension scheme
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Employees automatically enrolled by August 2015
57,907Employers completed
declaration of compliance
5,437,000
AE Overview
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AE Overview
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Small and Micro Businesses
1,800,000Small and micro employers due
to stage within the next three years
78% Look to accountant, bookkeeper or payroll bureau for advice and counsel
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Small and Micro Businesses
79% Employers enrolling in 2015 know their staging date
29% Employers enrolling in 2016 know their staging date
30% Employers enrolling in 2017 know their staging date
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AE as a Service
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• Many will not have the knowledge or experience to make informed decisions• Employers are becoming confused,
bewildered and overwhelmed as to what there responsibilities are• Your clients make ask you about the
change in workplace pensions law. Be prepared.
AE as a Service
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• Payroll bureaus need to decide if they are ready to offer AE services• Bureaus need to determine what kind of information
and support they will offer to help clients• Bureaus can generate income and enhance client
relationships by offering a complete end to end solution
AE as a Service
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Automate AE Duties
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AE Duties
1. Set up a Pension Scheme
2. Staging date – Assess the workforce
3. Communications
4. Declaration of Compliance
5. Ongoing Duties
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Automate AE Duties• AE does not require a great amount of time – payroll
software can mean even less time• Staging – an hour or two should be sufficient to deal with
AE tasks • Ongoing – should only take minutes to process
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Automate AE Duties• With suitable payroll software, there is
little work involved in the AE process. • Staging is the most hands-on task
involved• With the right tools, AE should
become a seamless part of the payroll process.
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HMRC Basic PAYE Tools• Basic PAYE Tools users do not have access to software to
assist with AE.• Assessing the workforce and calculating contributions
manually could lead to errors, burden and non-compliance.• 200,000 users are set to reach staging in next 2 years• TPR is releasing an AE Toolkit
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TPR’s AE Toolkit• Is it the most appropriate solution to use?• Limited AE functionality
• No automation
• A number of limitations
• Who should be enrolled & contribution values
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TPR’s AE Toolkit• Limitations:
• multiple pay frequencies• variable contribution levels• tax-based pay reference
period• legal minimum entitlement• banded qualifying earnings
• up to 15 workers• entitled workers• postponement• pension CSV files not prepared• re-enrolment
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Conclusion• No legal obligation to have software in place• The Pensions Regulator encourages employers to use an
integrated payroll and AE solution • Automate employer duties and simplify the AE process. • An integrated system will streamline AE and allow you
to reduce your workload and the risk of non-compliance, saving you both time and money.
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Choosing a Software Solution• Does it handle the necessary employer AE
responsibilities?• Does the software automate these tasks or is it time
consuming?• Is it integrated with your chosen pension provider?• Are there additional costs for AE functionality and
support?
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Increase Profits from AE
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• Engage with clients who have not yet staged• Find out clients’ staging date – http://bit.ly/1EuooiJ • Be proactive – let clients know that you are open for AE
business• Communicate AE service offering & pricing• Risk of losing some or all of your payroll clients
1. Engage with your Clients
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2. Avoid Penalties• The Pensions Regulator continues to
enforce fines and penalties for non-compliance. • Compliance Notices – 1,295 • Fixed Penalty Notices – 332 • Not allowing enough time to plan
could lead to your clients being fined
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3. Expertise• Bureaus can position themselves as available for AE
business• Clients outsource to you because you have the know-
how and it saves them time and money. • Trusting you as a payroll professional to make sure they
are fully AE compliant with the law.
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4. Payroll Software• Ensure AE Functionality for the success of AE. • Payroll software can provide the necessary functions to
automate the employer admin tasks. • The Pensions Regulator urges bureaus and employers to
check with their payroll provider.• Ensure that it supports the requirements of AE.
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5. Increase Revenue• A number of advantages to offering AE as a Service. • By offering AE as a chargeable service, bureaus can:• Enhance client relationships• Add additional revenue streams• Provide added value to your existing clients • Bring new clients on board• Benefit from a competitive edge
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Streamline AE• Modern innovative solutions exist that can automate AE
duties• Employee AE communications based on each
employee’s individual eligibility.• BrightPay – streamline AE, save time and money
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BrightPay Payroll and AE
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How BrightPay handles AE
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BrightPay’s Key Take Aways
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BrightPay’s Key Take Aways
Automation Hidden Costs Communication
Profitability
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Future Developments
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By Chris Daems
Mind the Auto Enrolment Gap
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• HMRC customers can now get 50% off when you switch to BrightPay*• Unlimited employees = £89 Now £44.50• Up to 3 employees = FREE
• BrightPay now has HMRC Basic Tools Import* Offer applies to new customers who switch to BrightPay from HMRC Basic tools or another payroll software provider for the first year subscription only. This offer applies to BrightPay 2015/16 employer licence only and does not work in conjunction with any other offer.
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@BrightPayUK 60 Day Free Trial
Switch TodayTo Get 50% Discount *
Phone 0845 3004 304 or email
[email protected] quote:
“Webinar50”
Bureau Licence
£199 + vat per year• Unlimited employers
• Unlimited employees
• Free support• AE functionality
* Offer applies to new customers who switch to BrightPay from another payroll software provider for the first year subscription only. This offer applies to BrightPay 2015/16 bureau licence only and does not work in conjunction with any other offer.
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99.3%Customer
satisfaction rate
99.5%Describe interface
as user friendly
98.8%Would recommend
BrightPay
98.5% Satisfied with
Customer Support
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A preferred supplier of TaxAssist Accountants
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Accredited by ICB - Read here
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Questions & Answers
For more information visit www.brightpay.co.uk or www.aeinabox.co.uk.