Current legislation requires all businesses to have a Stakeholder Pension in place for its employees to join. The National Pensions Savings Scheme, due to be launched in 2012, will make it compulsory for all businesses to pay into a pension scheme for its employees.
The cost of introducing a pension scheme for your staff can be relatively inexpensive and can also bring additional benefits, such as the retention of key staff.
As far as your benefits are concerned, there are numerous tax advantages to effecting a pension scheme on behalf of yourself and your staff, as the contributions made to such a scheme is an allowable expense for Corporation Tax purposes.
There are a number of different types of scheme available to you, and we can provide you with any assistance and advice you need in determining the most suitable type of scheme for your business.