It seems the Pensions Regulator is sending out letters to companies about the new automatic enrolment coming into force.
So no doubt many of you who are “S/E Ltd Co drivers” will also be receiving letters from the pensions regulator asking for you to nominate a “responsible person” to act as the nominated person within your company. thepensionsregulator.gov.uk/ … om-us.aspx
However if there’s only you acting as its only director and your not a PAYE employee of your company. There are options that can allow you to opt out of automatic enrolment. Whichever option you choose, the website above is easy to navigate and within a few minutes you should be able to fill in the details reqd
Heh-heh.
It gets worse for the whole self employed Nova type brigade. For those using umbrella companies and PAYE via their own Ltd Company then their “employers pension contribution” which will be extra free money to everyone on normal PAYE will be taken out of their pay just the same as the employers NI is now.
Conor:
Heh-heh.It gets worse for the whole self employed Nova type brigade. For those using umbrella companies and PAYE via their own Ltd Company then their “employers pension contribution” .
That was my initial thought.
The umbrella brigade will have to re-think their business model.
Those who arn’t using umbrella schemes, and are only taking minimal drawings etc should be able to opt out
peirre:
Conor:
Heh-heh.It gets worse for the whole self employed Nova type brigade. For those using umbrella companies and PAYE via their own Ltd Company then their “employers pension contribution” .
That was my initial thought.
The umbrella brigade will have to re-think their business model.
Those who arn’t using umbrella schemes, and are only taking minimal drawings etc should be able to opt out
Any one can opt out during the first month, then will get a full refund.
weeto:
Any one can opt out during the first month, then will get a full refund.
The opt out you mention is aimed at the “employee” not wanting to enrol
Whereas these letters are aimed at employers.
My letter gave me a date of July 2015 to nominate a person responsible for administering the scheme, and a date of July 2017 when the scheme must be in place, IF I didn’t opt out as a qualifying company having no employees or persons getting a wage via PAYE
peirre:
weeto:
Any one can opt out during the first month, then will get a full refund.The opt out you mention is aimed at the “employee” not wanting to enrol
Whereas these letters are aimed at employers.
My letter gave me a date of July 2015 to nominate a person responsible for administering the scheme, and a date of July 2017 when the scheme must be in place, IF I didn’t opt out as a qualifying company having no employees or persons getting a wage via PAYE
I don’t follow you.
But why wouldn’t these Ltd Co drivers want to do the pension, seeing as they’re earning loads more than us mere mortal paye counterparts? 
OVLOV JAY:
But why wouldn’t these Ltd Co drivers want to do the pension, seeing as they’re earning loads more than us mere mortal paye counterparts?
True, its not like they are going to lose any money they put in, is it.
Conor:
Heh-heh.It gets worse for the whole self employed Nova type brigade. For those using umbrella companies and PAYE via their own Ltd Company then their “employers pension contribution” which will be extra free money to everyone on normal PAYE will be taken out of their pay just the same as the employers NI is now.
Did you at some point get stung by HMRC after being Ltd or working through an umbrella?
weeto:
I don’t follow you.
Letters are being sent out to small businesses (mine arrived today) informing them what date they must have started a company pension scheme as part of the governments roll out of the new pension provisions. Part of that letter states that there must be a nominated person/administrator or pension provider registered with the DWP to whom they can contact. The details of that person/entity have to be registered by the date given on the letter (mine stated July 2015). The 2nd date on the letter states the deadline date when any pension scheme should be in place (mine stated 2017).
There is also provision online for small businesses without employees, or where there are only directors engaged in the business to opt out of the scheme. Once the DWP have this info no doubt they will then contact any employees of those companies to inform them of their pension rights.
Many of the Ltd Co drivers and umbrella drivers will be classed as small businesses and should therefore be getting these letters
peirre:
weeto:
I don’t follow you.Letters are being sent out to small businesses (mine arrived today) informing them what date they must have started a company pension scheme as part of the governments roll out of the new pension provisions. Part of that letter states that there must be a nominated person/administrator or pension provider registered with the DWP to whom they can contact. The details of that person/entity have to be registered by the date given on the letter (mine stated July 2015). The 2nd date on the letter states the deadline date when any pension scheme should be in place (mine stated 2017).
There is also provision online for small businesses without employees, or where there are only directors engaged in the business to opt out of the scheme. Once the DWP have this info no doubt they will then contact any employees of those companies to inform them of their pension rights.
Many of the Ltd Co drivers and umbrella drivers will be classed as small businesses and should therefore be getting these letters
So you can opt out online without all the hassle setting it up and then opting out, so basically no problem.
weeto:
So you can opt out online without all the hassle setting it up and then opting out, so basically no problem.
Assuming the “company” meets the criteria… Yes
peirre:
weeto:
So you can opt out online without all the hassle setting it up and then opting out, so basically no problem.Assuming the “company” meets the criteria… Yes
Good, and I think I guessed right about Connor and HMRC with his hatred of umbrella companies ect!
That’s where Conor may have a point, as the umbrella model sets the driver up as an employee of their own business (PAYE, NI, contributions paid etc). AFAIK with the payroll run as such, the driver/owner of the company would be liable to initially register/enrol for the new pension plan, both as the employee and employer contributions. But as you have stated the employee could decide to opt out, but the employer side would still need to setup a scheme as such.
No doubt the umbrella Co’s will be laughing all the way to the bank with this one.
Those operating the director (minuscule pay, dividend pay) model negates the above, due to nil PAYE & NI. So they can automatically opt out.
weeto:
Did you at some point get stung by HMRC after being Ltd or working through an umbrella?
No. I’m not a dumbass and did self employed driving properly going direct to companies and not via agency or umbrella.
I just find the mickey mouse self employed funny.
Conor:
weeto:
Did you at some point get stung by HMRC after being Ltd or working through an umbrella?No. I’m not a dumbass and did self employed driving properly going direct to companies and not via agency or umbrella.
I just find the mickey mouse self employed funny.
I find those who flounce away from a forum in a huff because they can dish it and not take it, and then come skulking back a couple of months down the line, even funnier.
Conor:
weeto:
Did you at some point get stung by HMRC after being Ltd or working through an umbrella?No. I’m not a dumbass and did self employed driving properly going direct to companies and not via agency or umbrella.
I just find the mickey mouse self employed funny.
So how does a driver doing that get round IR35? As I’m interested in doing the same.