Coronavirus Job Retention Scheme is going live on the HMRC portal on 20th April.
The Governments Coronavirus Job Retention Scheme will finally go live on the 20th April, allowing employers to claim 80% of the staff wages back… If they have kept them employed.
To claim, you will need:
– ePAYE reference number
– number of employees being furloughed
– the claim period (start and end date)
– amount claimed (per the minimum length of furloughing of 3 consecutive weeks)
– your bank account number and sort code
– your contact name
-your phone number
The calculation will need to be done in advance, including;
- 80% versus £2,500
- pro rata calculations
- min auto enrolment employer pension contributions
- employer National Insurance (excl. voluntary top ups)
- past overtime, fees and compulsory commission payments
Discretionary bonus (including tips) and commission payments and non-cash payments cannot be claimed.
Whatever you claim for the grant as gross pay, must be paid to the employees.
If you are already a Fresh Accountants Payroll client then this will all be handled for you. If you aren’t but would like guidence through this process then please get in touch via 01388417747 or email@example.com.