Somerset small businesses must contribute to their employees’ pension funds, according to a Government announcement today, a specialist has warned.
John Mayer who runs small business tax and accountancy firm, TaxAssist Accountants, in Weston-Super-Mare said that although the new law would be phased in from 2012, with smaller owner-managed firms not being affected until 2014, it was vital to get schemes in place. He comments:
“Following the Government’s announcement, all employers will, for the first time, be required to automatically enrol eligible employees into a pension scheme and pay pension contributions. Somerset small businesses should put their own pension scheme in place for employees, rather than rely on Government schemes, which may not be the best solution for their company.
“Even if businesses already have a workplace pension scheme, it may have to change to comply with the new law. Owner managers across Somerset will want to keep control of their employee benefits packages.”
You can find John's contact details at -
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