Update: - The existing furlough scheme will continue under the same rules and levels as August 2020 until the end of April 2021. We have updated the calculator below to allow entering dates up to April 30th 2021. We also have a new Job Support Scheme Calculator available for the postponed scheme that would have replaced furlough. Original article continues below.
The government launched their furlough application system online this morning. Employers can now make claims for furlough grants through the job retention scheme equivalent to up to eighty percent of employee gross income, as well as their NIC and mandatory pension requirements.
We have built this quick tool to calculate the amount of money an employer can claim based on the pro-rata system for calculation. You just need to enter the gross income per period, enter the total furlough length and you will see breakdowns of each claim for each period. It includes options for the minimum three percent employer pension auto-enrolment. It will also calculate employers' NIC.
The job retention furlough scheme has been extended multiple times and now will continue through to the end of April 2021. Further details regarding changes that have been announced have been incorporated into the tool below.
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The tool should help give you an overview of your figures. Employers applying online should expect to receive their grants within six working days. The COVID-19 Job Retention Scheme portal to start claims is now ready.
The furlough scheme was previously extended to bring more people into its reach by adding people on payrolls up to March 19th. It was also extended to the end of June, giving a full four months of access to government support for employers and their employees.
Over sixty percent of companies have put staff on furlough already and thus HMRC expects an influx of applications on day one of launch. This is especially true considering the proximity to the end of April payday. HMRC have put in place 5,000 staff directly working on helping people with queries and any issues they encounter in making applications.