Struggling SMEs turn to accountants for auto-enrolment help

Struggling SMEs turn to accountants for auto-enrolment help

A quarter of small businesses look set to miss their preparations, research finds

ACCOUNTANTS have an opportunity to benefit from small businesses struggling to prepare for auto-enrolment, a survey has found.

According to research from Creative Auto Enrolment, almost a quarter of small companies look set to miss their preparations, while 12% of small business owners staging between 2015 and 2018 plan to ignore auto enrolment completely.

The survey of more than 500 businesses with 1-57 employees found that 28% feel there is a lack of support for tackling auto-enrolment legislation. Of those, 70% admitted they don’t know who to turn to and 29% don’t believe their advisers know enough about the subject

Accountants are taking proactive measures to bridge this gap, with 18% of respondents saying that their adviser or accountant has already approached them.

David White, managing director of Creative Auto Enrolment, said: “There are over 1.2 million small companies in the UK with at least one employee that will need to prepare for auto enrolment.

“A vast number of those are expecting their accountant or payroll bureau to come to the rescue when it comes to the legislation. However we know that auto enrolment preparations are not just an administrative nightmare for small businesses, it’s a huge task for accountants too.”

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource