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Monday - Friday
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CHARTERED
ACCOUNTANTS FOR
AUTO ENROLMENT
AND PENSION SERVICES
IN LONDON
Are you looking for an auto enrolment and pension services for your businesses in London UK
Majestic Accountants offers a comprehensive, efficient and fully compliant auto-enrolment service for small and medium-sized businesses, ensuring a quick and seamless transition of all your eligible employees into the worker pension scheme.
Setting up employee pension plans has always been part of the services we offer clients since we started. We pride ourselves on the speed and efficiency with which we implement this transition, including a fully compliant auto-enrolment solution, from the planning to completion.
What Is Auto-Enrolment?
Upon retirement, it is ideal for employees to have a comfortable pension fund to rely on for the years to come. Whilst a pension scheme is nothing new and has been in place in many businesses across the United Kingdom for decades, it used to be implemented voluntarily. That is, employees had the choice to take part in the pension program or not. Should they wish to join, it is up to them to notify their employer of their intent.
In 2012, government studies showed that, on average, employees were not saving as much money for retirement as they should. This prodded the UK government to require employers to implement an automatic pension enrolment for all eligible workers.
With the new workplace pension scheme, retirement funds increased significantly, giving employees a more sizable financial cushion after retirement.
Who is eligible for the program?
Today, all UK businesses, including small businesses, are legally required to have a workplace pension scheme set and to enrol all eligible employees in this scheme automatically. To be deemed eligible, an employee must meet the following requirements:
- Be employed in the UK or are a seafarer who lives in the UK
- Be at least 22 years old
- Be younger than the State Pension age, which is currently 66 years old
- Has not been enrolled in any other workplace pension scheme.
- Are expecting to make at least GBP 10,000 for the tax year 2023/2024.
How much are the contributions?
Both, the employer and the employee have a responsibility to make contributions towards the pension. The UK government also gives a contribution by way of tax relief.
As the employer, you must make a minimum contribution of 3% of the worker’s qualifying earnings. The minimum contribution for the employee is 5% of their qualifying earnings, which is inclusive of tax relief.
Majestic Accountants Auto-Enrolment Service
A few years back, we formally added auto-enrolment to our long line of small business services in accordance with the government’s mandate requiring employers to automatically enrol all eligible employees into the company’s workplace pension scheme.
Our auto-enrolment solution is specially designed for small businesses and is one of the best in all of London. It fully integrates with your payroll system, HR protocols, and other relevant aspects of your business.
Our service also includes the determination of eligibility of employees by collecting vital information, checking contracts for legal discrepancies, and so on. The system also ensures that contributions will be automatically made into each eligible employee’s retirement pot.
Should an employee choose to opt out of the pension scheme, they can do so. But as the employer, it is your legal duty to re-enrol them after every three years, and we will help take care of that as well.
If your business is new or you don’t have an existing workplace pension scheme yet, we will set it for you, including a thorough and efficient automatic enrolment system.
Accounting Services
Company Formation and Startup
Choosing the right legal structure and registering the company can be tricky.
Our professional accountants can advise you and form a limited company for you. Please click here for our detailed services.
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PAYE
Accurate calculations and tax planning for Payroll services can bring a significant positive impact on your business cash flow. Our team of professional accountants proudly provide excellent payroll services and free up your time of extensive reporting to HMRC.
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Accounting and Bookkeeping
Depending on the size and nature of the business, our experts recommend the right software to you.
We usually use Quick books, Xero and Freeagent as our bookkeeping software(cloud-based system).
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Tax returns
Our qualified specialist tax advisors provide their advice and services considering personal and individual circumstances when it comes to self-assessment.
We support our clients by minimizing their tax liability wherever possible in personal tax return calculation.
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Management Accounts
We offer to produce management accounts on a monthly or quarterly basis. Which means you will get to review your key performance indicators KPIs more regularly. Your dedicated account manager will also be able to talk you through the numbers.
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Registered Office Address
This is a legal requirement for all companies to make their registered address publicly available.
Companies regularly receive their most important correspondence such as companies house letters, HMRC notifications and letters etc.
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VAT
We specialize in providing VAT (Value Added Tax) services for small to medium-size businesses through Making Tax Digital (MTD) compliance. Our qualified team of accountants help businesses submitting their VAT returns under the standard rate, flat rate, MOSS, Marginal and other schemes.
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TAX Investigation
Tax investigation letter may seem very straight forward in the first instance from HMRC, but it can bring further complications and surprises if not adequately handled. Our Tax investigation experts will provide you with specialist advice and take all the burden of dealing with HMRC inspectors.
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Sole Traders/Self assessment
We offer tax planning, bookkeeping, VAT, Payroll, Capital Gain Tax and pension calculations to finalise your personal tax returns.
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Small Business
We provide accounting and tax advisory services with fees that is highly competitive. We offer bookkeeping, VAT, Payroll, software, Registered office address, tax investigation and tax advisory.
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Why choose us
Our professional qualified team is registered with Institute of Chartered Accountants in England and Wales , Association of Taxation Technicians and Association of chartered Certified Accountants .
No two businesses are alike; therefore, we ensure that we tailor and customise our approach to suite your business accounting and tax advisory requirements.
You need a dedicated accountants to answer any accounting or tax related questions or even tax planning questions to avoid any costly mistakes.
Our team of professional accountants will be there for you via phone or emails.
We are partnered with famous accounting softwares QBs and Xero and others. this means more transparency and accuracy in accounts.
Unlike many other accounting firms, we offer fixed term prices to our clients in line with their accounting needs.
You will be provided full access to your accounts on completion of work. Our friendly team of accountants will always be available to answer your queries.
London Office Location
Located in the heart of London in Covent Garden. We are within walking distance to Covent
Garden underground tube station and mainline train station.
Office:
Ground Floor 90 Long Acre Covent Garden London WC2E 9RZ.
Telephone:
Company Number: 08092433, VAT Number: 254365793, Registerd in England & Wales
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