Rishi Sunak revealed further changes to the new Jobs Support Scheme last week.
The alterations came despite the fact the JSS has not even launched yet and was only announced a few weeks ago. It will take effect from November 1.
Furlough ends but payroll challenge continues
Much like its predecessor – the furlough scheme – JSS is creating greater complexity for payroll.
A recent AccountingWEB article suggested many accountants see it as yet another legislative ‘nightmare’.
There is a substantial amount of detail to digest, and then many subsequent decisions to make and tasks to execute, in order to be ready in time.
IRIS launches Job Support Scheme calculator
The good news is IRIS has launched a Job Support Scheme calculator.
And we’ve updated it in response to the Chancellor’s latest amendments.
The tool helps businesses find out how much they can claim back based on the Government’s scheme.
How does the Job Support Scheme calculator work?
Simply input an employees’ regular monthly gross wage, their regular monthly hours, and the hours they will now be working.
The calculator factors in whether a firm is located in a tier 3 (highest) local lockdown area. The rules vary for firms across England, depending on which tier they’re based in.
The IRIS calculator shows the amount the employers will need to pay for the reduced hours worked and the Government contribution.
Time to consider outsourcing payroll?
With the Job Support Scheme and so many changes to payroll legislation this year, some accountants may be reconsidering how they carry out their payroll responsibilities.
With over 40 years of experience in running payroll, IRIS can help through IRIS Resourcing.
Geoff Glover, Tax Partner at The Buxton Partnership, has found it “cost-effective” and a catalyst for his practice to grow. Read the full case study here.
Visit our calculator to get greater insight.
IRIS makes accountants more efficient and productive.