Work Place Solutions
Berkeley Private Wealth are thought leaders of work place solution trends, experienced in developing streamlined, work place solutions specifically for successful businesses that are agile, flexible and highly efficient. Our work place solutions team are dedicated to developing effective, dynamic work place solutions that make a positive impact to the efficiency and the productivity of your business. Our work place solutions have gone through a stringent due diligence process to ensure our exceptionally high standards within the industry are maintained.
Employers are required to do the following:
• Assess eligibility of employees
• Register with the Pensions Regulator
• Ensure that their pension schemes comply with all regulations
• Manage the enrolment process for all employees
• Manage and update the opting in and out of employees
• Manage contributions
• Ensure that inducements to opt out are not offered
• Provide regular updates and employee communications
• Re-enroll opted out employees on a regular basis
• Keep accurate records of all the above
Failure to comply will mean employers face the following consequences:
“Wake up call” fine £400
Persistent offenders will have escalating fines:
5-49 employees up to £500 per day
50-249 employees up to £2,500 per day
250- 499 employees up £5,000 per day
At its peak, there will be over 134,000 companies trying to stage on the same date. They will all be required to have a pension scheme in place, they will all be required to have some sort of system in place and be able to communicate in the right way
with their staff.
It is essential to be prepared, to ensure the changes required to systems are identified and all parties, including HR and payroll, fully understand what is required of them. Employers (Business Owners) need to understand their duties associated with these new laws, as they could be potentially time-consuming, complex to manage and costly to administer.
Even companies who consider that their staging dates are far into the future should take the time now to learn about Auto Enrolment and the effects it will have on them. They should perhaps look to make their arrangements in advance so that they can continue to run their business in the meantime with the confidence of knowing that when their time comes they will already have the necessary solution in place (and with a known cost).
Our team of energy brokers will work with you to secure the best possible prices for your gas and electric contracts on the wholesale energy market. Based on your specific requirements, they will tender on a “live” basis to all the energy suppliers, take care of the transfer and monitor your account throughout the entire contract. At renewal, they will ensure that termination is applied in accordance with Ofgem regulations and start the tendering process all over again. Our team provides bespoke energy solutions nationally to commercial customers of any size, in any sector.
Pension Auto Enrolment
Commercial Energy Consultation
Pension Auto Enrolment
Pensions Auto Enrolment will have an effect on any business in the UK that employs staff.
All eligible employees will need to be automatically enrolled into a Qualifying Workplace Pension Scheme with mandatory minimum contributions from the employer and the
Our Auto Enrolment Process
An initial meeting will be held so that our auto-enrolment team can get to understand your business and help you make some important decisions about the type of pension scheme you want to introduce.
They will then review your workforce by analysing payroll data, to identify which members of staff are eligible for the pension and to forecast how much the contributions will cost you.
At this stage they will conduct a review of any existing company pension scheme, to see whether this meets the legal requirements for an automatic enrolment scheme.
If the current scheme is not appropriate or in the absence of any existing arrangements, they will source the market to identify an appropriate provider for your new workplace pension scheme.
They will help you to communicate the new rules to your workforce by providing letters, tailored to the scheme they have designed specifically for you.
They will then arrange a seminar for your staff, at which point they will explain the background to the auto-enrolment project and provide details about the chosen scheme, the benefits of joining the pension and answers to any questions that they may have.
They will liaise with your payroll provider to collate the initial data and send it to the pension provider. The pension provider will then use this data to set up the scheme and send out the membership packs to your staff. They will also liaise with your payroll provider to ensure that the first pay run is completed smoothly.
Once the scheme is up and running, your payroll provider will send the payroll data to you every month. Our auto-enrolment team are available to resolve any issues as they arise and help you with any decisions that need to be made.
They will provide you with an annual report about the scheme and confirm that it continues to meet all legal requirements. Our team will also arrange an annual meeting with you, to review the scheme, to discuss and implement any high-level changes that you may wish to make.
Our team will ensure that the chosen pension provider remains competitive with regards to charges, flexibility and investment options. They will advise you of any changes to legislation on an ad hoc basis, to ensure that you continue to meet your legal requirements.
Capital allowance is a form of tax relief available for expenditure incurred in the purchasing or construction of commercial properties. They are an uncontroversial tax relief that effectively converts capital expenditure into tax-deductible trading expenses for income or corporation tax purposes.
In most cases capital allowances are underutilised and, as a consequence, are often under claimed. The importance of maximising capital allowances for integral plant and machinery in buildings has become increasingly important as an effective means of reducing the tax liability and obtaining tax refunds in the case of historical expenditure. Ensuring an entitlement to claim and maximisation of capital allowances available for different properties requires a specialist approach and a unique combination of skill sets.
Our specialist tax solutions team posses the knowledge, experience and expertise to meet the constantly evolving demands of capital allowance legislation and are particularly skilled in successfully identifying capital allowances for historical expenditure, the result of which, working with them on a claim can result in a significant cash benefit from HMRC.
Is a Corporation Tax relief that may reduce your company or organisation’s tax bill. Our expert tax solution team will build a rock solid technical narrative, in accordance with HMRC specification.