Auto Enrolment Pension Schemes 2019
The employer’s contribution rates for those on Auto Enrolment pension schemes will also increase, with employers needing to contribute a minimum of 3% with total contributions equaling 8%.
From April, the employer will need to contribute a minimum of 3% with the total contribution equaling 8%, meaning the employee will usually need to contribute the 5% themselves.
Of course, employers can chose to contribute more than the 3% minimum should they wish to, as long as the total contribution reaches 8%.
With these increased costs, did you know employers can claim up to £3,000 per year off their National Insurance bill if they qualify for Employment Allowance?
These claims can be backdated to the 2014/15 tax year if they have not been previously claimed and you are entitled to do so. So don’t miss out on investigating your options further at https://www.gov.uk/claim-employment-allowance