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PayFit rolls out Covid-19 updates to help firms calculate furlough and sick pay

PayFit rolls out Covid-19 updates to help firms calculate furlough and sick pay

French fintech firm PayFit has updated its HR and payroll software to allow UK businesses to calculate furlough and sick pay during the Covid-19 pandemic.

The updates enable PayFit users to submit all Covid-19-related leave and employees that have been furloughed, and generate a report which calculates how much money the company can reclaim from HMRC.

The new report section will give an overall monthly and yearly view of the costs for Covid-19-related leave and furloughs and also shows the overall pay, as well as the reclaimable amounts.

In addition, for non-clients the company is releasing a free furlough calculator.

Nick Miller, UK MD, PayFit, says: "Since the UK government introduced the Coronavirus Job Retention Scheme, businesses have been forced to move quickly to introduce measures to help see them through this unprecedented and difficult time, such as employee furlough schemes.

"At PayFit, we want to do everything we can to ensure that growing businesses have all of the tools they need to survive, and even perhaps thrive, during the COVID-19 pandemic."

HM Revenue & Customs said claims for 67,000 employees had been made in the first 30 minutes of the job retention scheme opening for applications on Monday, with millions more set to be added to the register over the coming days.

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