Struggling SMEs turn to accountants for auto-enrolment help
A quarter of small businesses look set to miss their preparations, research finds
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.”
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn 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 resourceIn 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 resourceThe 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 resourceJust one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased cos...
View articleMany smaller practices have ramped up to deal with auto enrolment for clients, while others are taking a more tentative approach, Accountancy Age rese...
View articleThree of the Top Ten accountancy firms' websites are not mobile-friendly; while micro-businesses are struggling to cope with their accounting and auto...
View articleAuto enrolment, the taxman, a potential client going elsewhere, the email inbox...all fun things for The Practitioner to handle after a week on hols R...
View articleTaxman's feline focus is unwelcome for the Practitioner - who is struggling to deal with scary auto-enrolment correspondence Read More...
View articleStruggling to bill clients...outsourcer woes...auto enrolment is proving resource-intensive with little to show for it, The Practitioner bemoans Read ...
View articleAccountancy Age reveals the most influential and powerful hitters in accounting and finance for the coming year Read More...
View articleAccountants must prepare to offer auto-enrolment advice Read More...
View article