An auto enrolment strategy that works
Two simple letters can ensure that you either maximise the profits you earn from auto enrolment, and/or eliminate your exposure in respect of auto enrolment, says Steve Pipe.
Auto enrolment is coming. And much of the work is pure compliance, that any accountant can do. Those are the inescapable facts.
In this article I set out a simple two-step system that you can use so that every single one of your clients falls into one of two categories:
- EITHER you have absolutely no responsibility for their auto enrolment needs – so that you can never be deemed negligent for any AE failings or non-compliance on their part
- OR you maximise the additional fees you earn by helping them with auto enrolment
When you use the system those are the only two possible outcomes. And both of them are really good news for your firm.
On the other hand, if you don’t use this type of system then, to some extent, you will be letting your clients and your firm down and not be providing clarity to clients. Your clients will lose out because they won’t all get the auto enrolment support they need. And your firm will lose out because you won’t earn all the fees you should have earned from auto enrolment, and some clients may even blame (and potentially even sue, irrespective of likely success or not) you for their auto enrolment failings.
STEP 1: Decide whether to...