Post on 17-Feb-2017
Paul Byrne: Embrace Auto Enrolment to Increase Profits
Patrick McLoughlin:Using Auto Enrolment to Attract your Ideal
ClientsThe webinar will begin shortly...
Paul ByrneManaging DirectorBrightPay
Embrace Auto Enrolment to Increase Profits
Patrick McLoughlinOwnerAccounting for Growth
Using Auto Enrolment to Attract your Ideal Clients
Q&A SessionQuestions Tab or #BPWebinars
CompetitionTwo BrightPay bureau 2015/16 licences
Q&A
WIN
Embrace Auto Enrolment to Increase Profits
Paul Byrne• Accountancy Practice
for 20 Years• Set up own company• BrightPay Background• 65,000 customers – UK
& Ireland
Agenda• Auto Enrolment Summary• Be Proactive - Communicate to your
Clients• Automate AE tasks• Beware of Hidden Charges• Timing & Tax Year• BrightPay’s Key Take Away’s
..Auto Enrolment Summary
Auto Enrolment• Government initiative – Save for later life• All employers required to offer a workplace
pension scheme to eligible workers
Small Employers• 1.2 million small & micro Employers set to
stage from June 2015• Majority of employers will not have the
knowledge or experience to make informed decisions
• Information overload - Confused, bewildered and overwhelmed
Small Employers• First experience to review any kind of
pension scheme for their employees• Lack the capacity and ability to handle
additional payroll tasks• Implementing any new system can be a
daunting, nerve-racking and downright scary experience
Staging Date AwarenessAwareness Accuracy
Smaller Medium 97% 83% Small Employers 81% 43% Micro Employers 51% 28%
Look up clients staging dates with The Pensions Regulator
Be Proactive.....
Be Proactive• Payroll bureaus must predict the
evolutionary need of their clients• Establish yourself as a proactive rather
than a reactive AE advisor• Necessary level of service for an initial set
up fee plus a monthly retainer
Communicate the Changes• Huge potential for accountants,
bookkeepers and payroll bureaus• Short window of opportunity to position
themselves as open for business• Communicate with clients that you are
open for business
Open for Business• Outsource to you because you have the
know-how and it saves them time and money
• Trusting you as a payroll professional to make sure they are fully AE compliant with the law
• Open to the idea of outsourcing AE for a chargeable fee
Automate AE Tasks
Auto Enrolment Tasks
1. Set up a Pension Scheme2. Staging date – Assess the workforce3. Communications4. Declaration of Compliance5. Ongoing Duties
Software Solutions• Average 33 administrative tasks• Automate the majority of these AE
processes• Combined payroll and auto enrolment
solution• Greater efficiency, increased value,
improved cost savings
Automate AE Tasks• Check with payroll software provider to
see how it handles AE requirements• Consider an alternative software package
that will integrate the required tasks into payroll software
• Allow you to streamline AE processes and increase the turnover of payroll clients
Does Your Payroll Software...1. Assesses your workforce?2. Allows the use of postponement?3. Automate employee communications?4. Calculate pension contributions?5. Handles opt-in and joining?
Does Your Payroll Software...6. Handle opt outs and refunds?7. Notify you when actions need to be
taken?8. Keep records and provide reports?9. Integrates with some or all pension
scheme provider systems?
Beware of Hidden Charges
AE Functionality• Choose payroll software that is specifically
tailored to auto enrolment• Make sure your software supports AE – test
it’s functionality ahead of staging date• Consider an alternative software package
to perform required AE tasks
Beware of Hidden Costs
• Beware of hidden costs• Some charge for AE
functionality, support, and additional employees
• Know all the charges that may apply to you
Timing and Tax Year
Software Solutions• If you are changing payroll software, it is
advised to make the change from the start of the payroll year
• Avoid any of the complications of a mid-year change of software
• Staging January – March 2016: ensure Auto Enrolment functionality now to avoid switching mid-year
Payroll Solutions• Modern innovative solutions exist that can
automate Auto Enrolment duties• Enter staging date to assess each
employee’s eligibility for Auto Enrolment • Employee AE communications based on
each employee’s individual eligibility
BrightPay & Auto Enrolment• BrightPay – an easy to use AE solution• Everything you need to provide a
profitable AE service to your clients
• Empower bureaus to improve profit margins and increase the turnaround of these clients
• Designed to take the grunt work out of Auto Enrolment
BrightPay Payroll Software
Unlimited Employers
Unlimited Employees
Free Support
60 Day Free Trial
BrightPay’s Approach
BrightPay’s Key Take Away’s..
1.Automation2.Functionality3.Hidden Costs4.Timing5.Communication
Patrick McLoughlin
Owner at Accounting for
Growth
25th March - Register Now
• Paul Byrne: Essential Questions to ask you Payroll Software Provider
• Darren Critten: Auto Enrolment - Collaboration is the key to Success!
BrightPay Webinar Series
Useful links and resources• TPR – www.thepensionsregulator.gov.uk/• NEST – http://www.nestpensions.org.uk/• AccountingWeb – www.accountingweb.co.uk/• BrightPay free trial – www.brightpay.co.uk/try/• Auto Enrolment for Dummies
http://bitly.com/1AhNPjX• TPR: What happens if I don't comply• TPR: Find out client's staging dates• TPR: Detailed Guidance
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@BrightPay UK
#BPWebinars
Questions & Answers
For more information see: www.brightpay.co.uk
Or phone: 0845 3004 304