5th October 2020
Job Retention Bonus Details Announced
The Government on Friday published the detailed guidance on the Job Retention Bonus. As announced previously, the Job Retention Bonus is a one-off £1,000 taxable payment for each eligible employee furloughed and kept continuously employed until 31 January 2021. The bonus itself can be claimed between 15 February 2021 and 31 March 2021.
You can claim for employees:
- for whom you made an eligible claim for under the Coronavirus Job Retention Scheme
- you kept continuously employed from the end of the claim period of your last Coronavirus Job Retention Scheme claim for them, until 31 January 2021
- are not serving a contractual or statutory notice period for you on 31 January 2021 (this includes people serving notice of retirement)
- you paid enough an amount in each relevant tax month and enough to meet the Job Retention Bonus minimum income threshold (see below)
Employers will still be able to claim the Bonus for employees receiving support through the recently announced Job Support Scheme which will supersede the CJRS
This is useful link to check eligibility https://www.gov.uk/guidance/check-if-you-can-claim-the-job-retention-bonus-from-15-february-2021
This link provides and example of how the scheme will work:
The Government is also highlighting to businesses that 30th November 2020 is the last day they can submit claims for furloughed staff for periods ending on or before 30 October 2020.