Finance update

Contributions – materiality check

On a monthly basis we email employers who’ve had a material difference (>3% and >£3,000) in their current month’s contributions, compared to the average for the previous three months.

In the last couple of months, we’ve had a few responses from employers who’ve advised the previous three months look okay, instead of providing a reason why the current month is out of tolerance.

Therefore, we’d like to remind employers to thoroughly check the material difference in their contributions if advised by us.

Arrears of contributions

For cases where employers have advised that there are arrears of contributions when we issue the invoice and associated paperwork, we also include a separate document asking for confirmation that the calculation is correct.

It would be appreciated if this could be responded to as quickly as possible so that we can make any necessary adjustments to the calculation if required.