'Farmers are not immune from the Government’s pension plans'

“Farmers need to ensure that they are taking heed of new pension regulations, which require employers to provide pensions for all workers,” says Patricia who works with farmers across Northumberland, Durham and Cumbria.

The Hexham-based accountancy firm Patricia J Arnold & Co Ltd recommends that farmers act now in order to prevent confusion when changes are implemented. To give farmers the opportunity to learn more about the implications and key areas that they need to address Patricia is holding a dedicated seminar on Wednesday 23rd September at West Orchard House, Allendale Road, Hexham at 5.30pm.

In the case of farmers and farm businesses, many workers may be relatives, which can often lead to a more relaxed approach to paperwork. However, Auto Enrolment is not something which is going to disappear, it is the law and therefore like all other businesses farmers must implement pension plans before 2017 and ensure that any current pension funds are compliant with the new guidelines.

Chartered Accountant Patricia says: “Whilst many farmers see the new pensions as time-consuming and unwelcome, it is important to remember that pension funding is now essentially Inheritance Tax-free.”

It is also important to note that the eligibility for Auto Enrolment has changed, therefore employers should check how many of their employees qualify. The obligations of employers vary according to the status of workers, so make sure you check the details. In order to ensure a smooth transition, the Government recommends that employers plan well in advance of the changes.