Updated 12th October 2020
We have now received further details of the Job Retention Bonus by way of a Treasury Direction which is summarised in this simpler guidance.
Here is a summary, which accords with previous government announcements:
- The Job Retention Bonus is available to employers in respect of each employee who (a) has been on furlough at some point; and (b) remains employed, and not under notice, on 31 January 2021
- To receive the bonus, the employer must have paid a salary of at least £1,560 to the employee between 6 November 2020 and 5 February 2021
- A claim for the bonus needs to be presented in a six-week window between 15 February and 31 March 2021. Details of how the claim is to be made will follow in further guidance.
- HMRC will make a payment of £1,000 to the employer for each eligible employee. The employer does not have to pass it over to the employee.
The government has produced a set of examples of employees who trigger the bonus.
Now that the furlough scheme is ending, if you have any queries about CJRS or the Job Retention Bonus, please contact us on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.