Buzzer:
Franglais:
Buzzer:
Maybe I am not understanding this but the way I interpret this £2500 was a maximum or am I misunderstanding this figure, for some this would be far more than they would normally earn so can any one put some clarity on this figure please, Buzzer.Yes furloughed workers get 80% of their regular pay up to a max of 2,500 per month paid by the Gov.
Several other rules but that’s the basics.That means an average wage of £3125 per month roughly £750 a week, maybe I am out of kilter but there are many working that would not achieve that figure. The other thing I would like to know is do the recipients have to pay tax and NI on the monies received ? just wondering if that’s the case.Buzzer.
No its a maximum of £576.92 per week maximum no matter who you are or what you earn, or 80% of your average wages, so if your average top line pay is £600 per week you will get £480 per week. Subsistence, bonus payments, or expenses are not paid. The furlough payment is subject to normal deductions for income tax, pension and NI.
There is a common misunderstanding that the government pays the furloughed employee directly, but they don’t. The employer pays the furlough amount to their employee then it is claimed back from the government by the employer. However there is a minimum three weeks gap between an employer paying out and receiving the government money. This is going to stretch many firms that pay weekly wages (as most still do in my experience). They have to fund 80% of the payroll for three weeks without any revenue coming into the business if it is closed down.
The RHA estimates that 47% of the hire and reward sector is closed down.