Paul Byrne: Auto Enrolment: A New

Revenue Stream for

Bookkeepers

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Paul Byrne Managing Director

BrightPay

Auto Enrolment: A New

Revenue Stream for

Bookkeepers

Q&A Session

Questions Tab or #BPWebinars

Competition

Two BrightPay bureau 2015/16 licences

Q&A

WIN

Auto Enrolment: A New Revenue

Stream for Bookkeepers

Paul Byrne

• Accountancy Practice for

20 Years

• Set up own company

• BrightPay Background

• 65,000 employers – UK &

Ireland

Agenda

• Auto Enrolment Overview

• Small Employers are unprepared for Auto

Enrolment

• A New Revenue Stream for Bookkeepers

• Auto Enrolment Software Solutions

• BrightPay’s Key Take Aways

Auto Enrolment

• Government initiative – Save for later life

• Rolled out in stages: Oct 2012 – Oct 2018

• All employers required to offer a workplace

pension scheme to eligible workers.

Auto Enrolment

Eligible Jobholders

Employees must be automatically enrolled if they:

• Are aged between 22 and State Pension age

• Earn more that £10,000 per year

• Work, or ordinarily work, in the UK

Non Eligible Jobholders & Entitled Workers

Auto Enrolment Responsibilities

1. Set up a Pension Scheme

2. Staging date – Assess the workforce

3. Communications

4. Declaration of Compliance

5. Ongoing Duties

Auto Enrolment

43,000 45,000 110,000 To Date Jan – Dec 2015 January 2016

Auto Enrolment

Look to accountant,

bookkeeper, or payroll

bureau for advice and counsel

Look up clients staging

dates with The

Pensions Regulator

78%

Small Employers are Unprepared

for Auto Enrolment

1,250,000 Employers Yet to Stage

43,000 Staged to date

29%

50% 50% of those already enrolled turned

to advisors very close to staging

3 out of 10 payroll administrators –

clients will rely on them completely

39% – Clients would be able to deal

with AE administration demands

8 in 10 – believe clients would wait

last minute to seek advice

78%

50% 39%

A New Revenue Stream

for Bookkeepers

Challenges

Recent challenges for bookkeepers and payroll

bureaus:

• RTI

• iXBRL

• FRS 102

Auto Enrolment is the one new change that you

can make a profit from.

Key Points

1. Employers will need help from bookkeepers

and other payroll bureaus

2. Employers will come to you last minute for

assistance

3. Employers will be happier to consolidate all

their outsourced services to one person or

advisor

Key Questions

1. Are you prepared to offer Auto Enrolment

services to clients?

2. Are you willing to lose clients if you do not

offer Auto Enrolment services?

3. Will you make a profit from Auto Enrolment?

A New Revenue Stream

• Potential - Gain new clients

• Increase fees with existing clients

• Short window of opportunity to position

themselves as open for business

A New Revenue Stream

• Establish yourself as a proactive rather

than a reactive AE advisor

• Naturally increase profits

• Necessary level of service – initial set up

fee plus a monthly retainer

Auto Enrolment Software

Solutions

Software Solutions

• Average 33 administrative tasks

• Automate employer responsibilities

• Combined payroll and auto enrolment solution

• Greater efficiency, increased value, improved cost

savings

Software Solutions

Payroll software that automates auto enrolment

tasks is vital:

• Employee assessment

• Personalised communications

• Ongoing monitoring

• Opt-outs & refunds

• Mandatory reporting

• Pension contribution deductions

Software Solutions

• Does your payroll software provide Auto

Enrolment functionality & support?

• Change software at the start of the tax year to

avoid the complications of mid-year change

Software Solutions

• BrightPay – an easy to use Auto Enrolment

solution

• Everything you need to provide a profitable AE

service to your clients

• Unlimited employers, unlimited employees, free

support

In simple terms “It just works”!

ICB Accredited

• BrightPay is an ICB

accredited payroll solution

• BrightPay Accreditation

Report

ICB Discount

BrightPay’s Key Take Aways BrightPay’s Key Take Aways

Key Take Aways

1. Be Ready

2. Payroll Software

3. Costs

4. Customer Support

5. Open for Business

How BrightPay handles Auto

Enrolment

Useful links and resources

• ICB – BrightPay Accreditation Report

• The Pensions Regulator -

www.thepensionsregulator.gov.uk/

• The Pensions Advisory Service -

www.pensionsadvisoryservice.org.uk/

• NEST – http://www.nestpensions.org.uk/

• Friends of Auto Enrolment – www.friendsofae.co.uk/

• Accounting web – www.accountingweb.co.uk/

• BrightPay free trial – www.brightpay.co.uk/try/

• Auto Enrolment for Dummies - http://bit.ly/1AhNPjW

Questions & Answers

For more information see: www.brightpay.co.uk

Or phone: 0845 3004 304