Job Retention Bonus Scheme
You probably saw on the news that the Chancellor has announced an additional feature to the Job Retention Scheme, namely the payment of a bonus to employers who keep employees in work until at last 31st January 2020. We thought we'd send a circular round setting out the main points of the scheme for your information.
The bonus is a one-off payment to any employer that has used the Coronavirus Job Retention Scheme.
To be eligible the qualifying employees must:
- earn at least £520 per month on average for each of November, December and January
- have been furloughed at some point and been legitimately claimed for under the furlough legislation
- have been continuously employed until at least 31st January 2021
Claims for the bonus can be made from February 2021 after accurate RTI information covering up to 31st January 2021 has been provided to HMRC.
The intention of the bonus is to provide further assistance to employers to retain employees.
As and when any further details of the bonus scheme are provided we will let you know.For more information, support and advice in relation to the measures available to support businesses contact us on 01942 760500 or e-mail email@example.com