How Furlough Changes Have Impacted UK Payroll
The UK government implemented the Coronavirus Job Retention Scheme last year to help businesses pay employees who had to reduce working hours or were laid off as a result of the shutdown. This furlough scheme has provided months of relief for workers and their employers during this ongoing crisis. But during the last year, there have been many changes in the percentage of government subsidizes – ranging from 60-80%, and these changes have been implemented with little notice.
Payroll teams in the UK have struggled to keep up with the changes, and as a result, payroll errors have increased significantly. In one survey, payroll professionals reported there were payroll mistakes each month due to furlough, national insurance, pension and other payroll-related deductions. These errors required countless hours of payroll corrections and is putting stress on payroll teams trying to manage all of the new regulations.
With all of the expertise needed to manage payroll, these ongoing changes to furlough have placed a large burden on UK payroll teams. Manual payroll processes won’t be able to keep up with new payroll requirements – you need technology in place to reduce the burden for your payroll team. Using cloud-based technology that updates with new changes, directly files with HMRC, and manages compliance is a must-have for companies to handle the complexities of UK payroll.
Blue Marble has created one cloud-based platform to manage payroll in 150+ countries. Our in-country experts in the UK can simplify your payroll process, improve compliance, and ensure you are meeting the furlough requirements as they change. Get started now before new furlough changes go into effect this summer. Talk to us today about your payroll in the UK