by David Watkinson Watkinson Black Accountants
Do you employ someone? Concerned about the workplace pension? Why not let us run your payroll at an additional cost of a mere £4.50 to yourself!!
If you operate PAYE and employ someone then you will be required to offer a workplace pension in
the near future, and there are stringent penalties if you fail to meet your legal obligations. You have
no choice! This is particularly intimidating for the smaller employer, especially the monthly service
charges that are being made by pension providers. We are ourselves a small employer and have
recently moved our own pension from our former pension provider after they imposed a charge of
£75 plus VAT per month!
Having researched the market we have decided to offer NOW: PENSIONS (“NOW”) as the default
pension provider to our payroll bureau clients. In the past few days NOW have announced that they
will be making a standard monthly employer service charge of £36 plus VAT. This is good value for
money, but WE CAN DO BETTER!
Appoint us to run your payroll and NOW will only charge a reduced standard monthly employer
service charge as follows:
– Up to 4 employees: £12.50 plus VAT
– 5 or more employees: £20 plus VAT.
For the very small payrolls this represents a saving £23.50 plus VAT per month on NOW’s standard
charge. Our charges for running your payroll are currently £26.50 per payroll run. From staging date
this will increase by £1.50 plus VAT, meaning that at current costs, we will be effectively running a
monthly payroll and helping you to comply with your workplace pension obligations for a total cost of
£40.50 plus VAT per month, an additional cost over running your own payroll of £4.50 plus VAT per
month!!
Even employers with larger payrolls will still see a saving of £16 plus VAT per month, which overall will
result in a very cost –effective service. For instance, if you have 5 employees on your payroll then we
can run your payroll and ensure that you meet your workplace pension obligations for that same fee
of £28 plus VAT meaning that you will be paying only £12 per month more than you would pay if you
ran your own payroll.
And it gets BETTER! Appoint NOW as your pension provider through us before 1st December and they
will not charge you until 6 months after your scheme starts, saving you an additional £75 to £120! To
take advantage of this one-off offer please contact us by email to [email protected]
by this Sunday, 29th November, ensuring that you provide a contact number where we can contact
you on Monday.
Please note that we are not authorised to offer pension advice. The provision of a default pension provider is for administrative purposes only.
