Pensions Regulator and requirements for 1 man Ltd Co.

[Shnozz]

I am sole director of a ltd company, like many on here I would guess.

Just had the letter from the Pensions Regulator drop through the door re automatic enrollment as from 1st August 2017.

In practical terms, can anyone give a quick overview as to what steps I must take and how this will work going forward? I have a private SIPP and have no desire to tie up money from the business in further contributions as I have a general disdain for handcuffed pension funds as it is.

[Shnozz]

Answering my own question possibly here - but having looked on the tpr website, if I earn £833PCM and take dividends for the remainder, does that mean the sole employee of the company employs nobody who earns more than £833PCM and therefore the employer doesn't have to provide a pension scheme but now has duties?

[PurpleMoonlight]

If you are the only employee you don't need to establish an auto enrolment arrangement.

You will likely need to notify the Pensions Regulator of that at the appropriate time though, as they don't have access to who is on the PAYE just that it exists.

Edited by PurpleMoonlight on Friday 15th July 14:34

[Jockman]

PurpleMoonlight said:

If you are the only employee you don't need to establish an auto enrolment arrangement.

You will likely need to notify the Pensions Regulator of that at the appropriate time though, as they don't have access to who is on the PAYE just that it exists.

Edited by PurpleMoonlight on Friday 15th July 14:34

Indeed.

http://www.icaew.com/en/archive/members/practice-r...

[Shnozz]

Great stuff - makes sense. Sadly the leaflet with the letter doesn't make this point clear at the outset. I would have thought it would have been one of the first points of note to then allow many to cast it all aside.

Thanks to you