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These are the details for Capital Gold Payroll (4.08.02).
Version |
4.08.02 |
Released |
Jun 20 |
Summary |
This release includes functional improvements to assist employers who have furlough employees under the Job Retention Scheme due to coronavirus (COVID-19). The Job Retention Scheme was introduced by The Chancellor of the Exchequer in April 2020 to support public services, people and businesses through this period of disruption. |
The scheme currently covers 80% of the employee usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and pension contributions (up to the level of the minimum automatic enrolment employer pension contribution) and employers can re-cover these costs from HMRC. This funding level will remain in place until the end of July 2020. The employer can elect to top-up the employees pay to 100% but this portion cannot be re-claimed. Details of the funding arrangements from August 2020 until the end of October 2020 when the scheme is expected to finish will be clarified shortly and further information will then be made available.
The functional improvements to Capital Gold Payroll to support employers with furlough staff include:
You can define which pay element(s) you wish to use for furlough payments and the pay elements if any, you will use for top-up pay above 80%.
You will be able to record the dates employees are furloughed.
There is a report which will calculate the reclaim values for all furloughed employees. The report will include the following values per employee:
Gross pay grant (e.g. 80% of salary / Up to £2500)
Employer’s NIC contributions
Employee’s Pension contributions (up to the level of the minimum automatic enrolment employer pension contribution).
An output file in CSV/Excel format matching HMRC requirements for upload to the government portal for monies due can also be created. The CSV file will contain an entry for each furloughed employee and the file will be created using the same logic as the report.
For more detailed information about the functional changes in this release please refer to the Supporting Guide to using Furlough processes.pdf.