Time to think about saving for your future and your staff.
Your Staff pension is managed under Auto-enrolment, and yours is a Private Pension scheme.
We can help you save you 26% in Tax!
There are 2 Pensions your business needs to think about
Pensions for your staff come under auto-enrolment
We advise that a Director Pension should be a separate Company one
B4Bookkeeping can manage your staff pensions alongside the monthly payroll
Staff are Auto-Enrolled into a Pensions scheme; we recommend NEST
You have to contribute 3% of their salary; they put in 5%, another Employer Tax for you to pay
As for Directors, a Company Pension Scheme enables the Company to Contribute lump sums into it
This is very tax advantageous at Year-End as you can reduce your Corporation Tax bill by 19% of the payment
Private Pension schemes can also return 7% growth, whereas is Nest is more like 1%
If you want to know more about Director Pensions, please speak to our Investment Advisor, Brad