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wp-pagenavi domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/accountantsedinb/public_html/wp-includes/functions.php on line 6114ninja-forms domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/accountantsedinb/public_html/wp-includes/functions.php on line 6114WordPress database error: [Table './accountantsedinb_wp/wp_wfBlocks7' is marked as crashed and last (automatic?) repair failed]SELECT *, CASE
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By law,\u00a0on 6 April 2018,\u00a0Employers\u00a0are required to increase the amount of their minimum auto enrolment contributions into their staff’s\u00a0automatic enrolment pension to at least of\u00a02% of\u00a0qualifying earnings.\u00a0Members of staff will have to pay the\u00a0shortfall\u00a0needed to make\u00a0the\u00a0total minimum contribution\u00a0up to\u00a05%, therefore their minimum contribution is 3%.<\/p>\n
The minimum auto enrollment contribution levels\u00a0will rise again\u00a0on 6 April 2019,\u00a0with the employer paying a minimum of 3% towards the pension, and the total minimum contribution reaching 8% – with\u00a0staff making up the difference of 5%.<\/p>\n
You as the employer can choose to pay the full amount of the\u00a0total minimum contribution. This may mean staff do not have to pay in anything at all, unless the scheme’s rules say that they\u00a0have to make contributions.<\/p>\n
Both yourself and staff can also choose to contribute more than the minimum\u00a0amounts if you wish.<\/p>\n
If you pay in more than their\u00a0legal\u00a0minimum\u00a0contribution,\u00a0but less than the total minimum contribution shown in the table below, then your staff\u00a0will need to\u00a0pay in\u00a0at least enough to make up\u00a0the shortfall between these\u00a0amounts.<\/p>\n
The table below\u00a0shows the minimum contributions that\u00a0employers who set up a defined contribution scheme for automatic enrolment must pay, and the date when they must increase.\u00a0This is calculated based on earnings between \u00a35,876\u00a0to \u00a345,000 per year (\u00a3490 to \u00a33,750 per month, or \u00a3113\u00a0to \u00a3866 per week), and including certain elements of pay.<\/p>\n
<\/p>\n
Date effective<\/strong><\/td>\n| Employer minimum contribution<\/strong><\/td>\n | Staff contribution<\/strong><\/td>\n | Total minimum contribution<\/strong><\/td>\n<\/tr>\n | Currently until 5 April 2018<\/td>\n | 1%<\/td>\n | 1%<\/td>\n | 2%<\/td>\n<\/tr>\n | 6 April 2018 to 5 April 2019<\/td>\n | 2%<\/td>\n | 3%<\/td>\n | 5%<\/td>\n<\/tr>\n | 6 April 2019 onwards<\/td>\n | 3%<\/td>\n | 5%<\/td>\n | 8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n | <\/p>\n It’s important that your\u00a0payroll\u00a0is ready to deduct the increased minimum\u00a0contributions when they rise on 6 April 2018 and 6 April 2019 and knows when and how much to deduct.<\/p>\n If you use an outsourced\u00a0payroll service, you should check with them that they’re ready for the increases, and make sure they know when to deduct them.<\/p>\n For payroll processed in-house, you need to be certain that the software is ready for these increases. In\u00a0order to avoid any problems, you should make sure that the contributions increases have been put in place correctly, including for the first payroll run where the new rates may\u00a0take effect part way\u00a0through the\u00a0pay period.<\/p>\n <\/p>\n Crunchers – Accountants Edinburgh<\/em><\/strong><\/p>\n \u00a9 Photo Credit Garry Knight<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" |