Job Retention Bonus

Published: 08/07/2020

Yesterday saw the Chancellor announce the introduction of the Job Retention Bonus.

He advised that this is a one-off payment of £1,000 to all employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31‌‌‌ ‌January 2021. It is an incentive for employers to bring back staff from furlough and the bonus will provide additional support to retain employees.

To be eligible, employees will need to:

  • earn at least £520 per month (above the Lower Earnings Limit) on average for November, December and January
  • have been furloughed by you at any point and legitimately claimed for under the Coronavirus Job Retention Scheme
  • have been continuously employed by you 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 from HMR&C and full guidance will be published in Autumn.

As always please get in touch if you require any assistance, call us on 020 8661 7878 or email bsg@turpinba.co.uk