Daly Park | Employers - Calculating your employees wages in Furlough Scheme | Tax advice and Accountant News

Employers - Calculating your employees' wages in Furlough Scheme

20 April 2020

HMRC have just released guidance for employers on how to calculate 80% of their employees' wages on the Coronavirus Job Retention Scheme.

Now that HMRC's online portal for the scheme is now open, you can claim for 80% of your employee’s wages (even for employees on National Minimum Wage) - up to a maximum of £2,500 per month.

You will need to pay employer National Insurance and pension contributions on behalf of your furloughed employees, and you can claim for these too.

You cannot claim for:

  • additional National Insurance or pension contributions you make because you choose to top up your employee’s wages
  • any pension contributions you make that are above the mandatory employer contribution.

To read out more click on How to Calculate 80%

KEYWORD TAGS: Coronavirus Payroll

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