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09/07/2001
SHAREHOLDER PENSION LEGISLATION GUIDE LAUNCHED
AN independent guide for small businesses on the detailed requirements of the new shareholder pension legislation has been published.
The guide, by Is4profit, the internet-based business information and advisory service for SME’s, supplies a step-by-step approach for small firms with regard to the new legislation.
Managing Director Brian Jack said: “There remain only three months to the date when all UK companies must be compliant with stakeholder laws. After 8 October, companies will be liable for penalties of up to £50,000, and individuals up to £5,000, if a stakeholder scheme has not been put in place.
“The danger is that if companies try to rush the process of setting up a scheme, they may end up with an inappropriate arrangement.”
Mr Jack added that the track record of providers was clearly a consideration, but it was also important that SME’s did not underestimate the bureaucratic burden they were under.
The guide can be downloaded from www.is4profit with added links to regulators, providers and sources of impartial advice and information. (MB)
The guide, by Is4profit, the internet-based business information and advisory service for SME’s, supplies a step-by-step approach for small firms with regard to the new legislation.
Managing Director Brian Jack said: “There remain only three months to the date when all UK companies must be compliant with stakeholder laws. After 8 October, companies will be liable for penalties of up to £50,000, and individuals up to £5,000, if a stakeholder scheme has not been put in place.
“The danger is that if companies try to rush the process of setting up a scheme, they may end up with an inappropriate arrangement.”
Mr Jack added that the track record of providers was clearly a consideration, but it was also important that SME’s did not underestimate the bureaucratic burden they were under.
The guide can be downloaded from www.is4profit with added links to regulators, providers and sources of impartial advice and information. (MB)
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Companies urged to meet stakeholder deadline
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Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
