Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Calculating COVID-19 payment

  • 01-04-2020 6:17pm
    #1
    cd1985
    Registered Users Posts: 24 ✭


    Hi There,
    I was wondering if anyone can help me. My company is going for the Temporary Subsidy scheme and I am using sage micropay. I have set everything up in order to do this but I'm a bit confused as the subsidy payment is net and I have to calculate the gross, our company is matching our pay so it won't just be the 30% figure I have to enter into gross, how is the best way of figuring this out? Do I also need to subtract the medical, pension payments received from the employer from this gross figure? Sorry might be a stupid question but I have been going around in circles today trying to figure this out and I have no one to discuss it with.
    Thanks a mil


Comments

  • #2
    fifi007
    Registered Users Posts: 2 ✭fifi007


    I have been struggling with this for the last couple of days too. This is what I have done ( not sure if I am 100% correct or not ) - Get all employees Average Nett amount first - I presume you have set up The Covid Subsidy ( No PAYE/NO PRSI/) as a seperate deduction and the remainder (taxable) will then be calculated until you get as close to Nett figure as you can. You have to keep playing around with this figure to get it as near as you can to their usual nett. The next part is really messy - some of the employees will be entitled to a tax & USC refund so this will now have to be added onto their nett. Make sure you inform all employees that this is a temporary anomaly and will have to be paid back - possibly on their 2021 Tax Credits. I am still calculating what would normally take me a half day from start to finish - It's a nightmare !!!!!!!!


  • #3
    cd1985
    Registered Users Posts: 24 ✭cd1985


    @fifi007 thanks a mil for your reply, yes I have it all set up and ready to go it's the messy bit I don't get, how do you add back their refund, do you just get it to what they usually get and then add in the refund the has been calculated into the net amount? There is nothing on this online. Thanks


  • #4
    silent_spark
    Registered Users, Registered Users 2 Posts: 461 ✭✭silent_spark


    Sage has very detailed covid instructions on their website. If something is unclear, give them a call, they're usually pretty helpful.


  • #5
    cd1985
    Registered Users Posts: 24 ✭cd1985


    @silent_spark thanks for your reply, yes I've got a good bit of info from the site that has got me to this point but they are so busy on phones that I'm not even getting to the point of been put on hold, just told they are too busy. Will try them again today


  • #6
    fifi007
    Registered Users Posts: 2 ✭fifi007


    Hi cd1985 - what I did was - I literally took out a note pad and pencil and worked backwards. As I entered each individual employees wages I clicked on their payslip so I could view it as I went along. Take note of their refunds and on your rough work add this refund to their usual nett and see if it works out - if not go back again and jig around with their (taxable ) gross figure - it could take about 10+ attempts to get it right. Whatever their refund is they have to get !!!!!


  • Advertisement
Advertisement