Chancellor Announces Job Retention Bonus

Yesterday the Chancellor announced the introduction of the Job Retention Bonus.

This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31‌‌‌ ‌January 2021. The bonus will provide additional support to retain employees.

To be eligible, employees will need to:

• earn at least £520 per month on average for November, December and January

• have been furloughed at any point and legitimately claimed for under the Coronavirus Job Retention Scheme

• have been continuously employed up until at least 31‌‌‌ ‌January 2021.

Employers will be able to claim the bonus from February 2021 once accurate RTI data to 31‌‌‌ ‌January has been received. More information about this scheme will be available by 31‌‌‌ ‌July and full guidance will be published in the Autumn.

HMRC are also contacting selected employers to discuss their CJRS claims. These calls will be to check they haven’t made any mistakes and to help make sure they’re claiming the correct amount.