The complications of furloughing
On the surface, furloughing initially seems simple enough, you furlough an employee rather than making them redundant and then claim back via the government.
However, due to the speed everything is changing and the actual calculations required, it quickly becomes far more complicated with common challenges such as:
Employee contracts: Furlough leave calculations can vary significantly when dealing with full-time employees, varied weekly hours and zero-hour contracts.
Furlough deadline extension: Chancellor Rishi Sunak recently announced that the scheme is extended until the end of June and will be extended further if required.
Deductions: When calculating your furlough payments, you must consider National Insurance pro-rata payments and Employer Pension Contributions.
IRIS’ Furlough Assistance Service
We understand the pressure furloughing has placed on businesses and to support we’ve launched our new Furlough Assistance Service.
The Furlough Assistance Service can help with training and guidance on a one-to-one basis, so you and your team stay updated with the most recent information and changes.
In addition to the training, we can also build custom reports in your IRIS software to help you quickly calculate your furlough payments on an ongoing basis and support with filing your claims via the HMRC portal.