Note: the new Job Support Scheme that was due to commence on 1 November 2020. However, the start of a second England-wide lockdown has prompted the Government to extend the existing furlough scheme until December – pushing back the start date for the Job Support Scheme
What’s in store for employers over the coming months as the Coronavirus Job Retention Scheme ends? Join us for a free webinar where we examine key concerns:
At BrightPay, we take customer satisfaction very seriously. We regularly carry out customer surveys to make sure our customers are satisfied with their BrightPay experience. These surveys provide invaluable information regarding what our customers want and need, and what we need to work on moving forward. We’ve compiled the results of our latest survey and we wanted to share them with you.
In October, the government will pay 60% of wages up to a cap of £1,875 for the hours the employee does not work. Employers will need to pay employer NI contributions and employer pension contributions plus 20% of wages to make up 80% of the total, up to a cap of £2,500. After 31st October, the government contributions will finish, and the scheme will come to an end. The new Job Support Scheme will start in November to top up the wages of employees unable to work full-time because of coronavirus restrictions over the winter.
Together with FreeAgent, we’ve built a meaningful API integration to make payroll refreshingly easy while keeping your accounting simple. BrightPay produces the payroll journal in a file format that is unique to FreeAgent. Users can easily upload their payroll figures into their general ledger from within BrightPay using the FreeAgent API facility.
With the end of the Coronavirus Job Retention Scheme fast approaching, more employers are having to consider the issue of redundancies. New regulations which came into effect on 31 July 2020 have changed the way in which statutory redundancy and notice pay must be calculated in respect of employees who have been furloughed. If a worker loses their job and is entitled to redundancy pay, this should be calculated based on their pre-furlough wages. Firms cannot use the money from furlough to subsidise redundancy packages.