Does auto-enrolment apply to me?
If you're the only director of your own company, you don't have what the regulators call 'auto-enrolment duties'. That means that you're not obligated to pay into a pension contribution for yourself. But this doesn't mean that you can ignore the letters that come through the post.
All you need to do is tell the Pensions Regulator that you're not an employer (that's only if you meet one of the following criteria):
- you’re a sole director company, with no other staff
- your company has a number of directors, none of whom has an employment contract, with no other staff
- your company has a number of directors, only one of whom has an employment contract, with no other staff
- your company has ceased trading
- your company has gone into liquidation
- your company has been dissolved
- you no longer employ people in your home (cleaners, nannies, personal care assistants, etc)
You then use the Pension Regulator's Duties checker to understand the specific steps you need to take. It's really quick and easy to do (just takes a few minutes), and it will feel great to no longer have that nag, so why not do it now?
If you don't meet one of the criteria, still use the Pension Regulator's Duties checker to understand what you need to do.
Comments
| There are no comments for this entry yet. |