If you are an employer and employee staff over 22 years old or earning over £10,000 you must offer them a company pension scheme, even if they wish to opt out. If you do not set up a pension scheme the regulator may fine you up to £5,000 per company. Please note that this is the responsibility to set up, enrol and reenrol, of the director not the accountant.
The latest news from PMC Partnership incorporating Pomfreys Accountants – 1st October
If are a non tax payer earning below £12,570 you can earn up to £5,000 tax free of interest. If you are a basic rate tax payer earning over £12,570 up to £50,000 you can earn up to £1,000 of interest tax free.