Way back in July The Chancellor Rishi Sunak announced The Job Retention Bonus, which would launch on 1 November 2020. The scheme was designed to continue to support jobs through the UK’s economic recovery from coronavirus by encouraging and helping employers to retain as many employees who’ve been on furlough as possible, thus avoiding job losses in the form of redundancies.
As the date approaches, we thought it might be useful to remind you of the scheme, so you can check whether you will be eligible for a payment from HMRC.
The Job Retention Bonus is available to employers for each employee in the following circumstance:
- Have been furloughed at some point and you have made an eligible claim for them through the Coronavirus Job Retention Scheme. AND
- Remain employed, not under notice, on 31 January 2021.
To be eligible to receive the bonus, employers must have paid a salary of at least £1,560 (gross) to the employee between 6 November 2020 and 5 February 2021. This is to prevent the employer getting a bonus of £1,000 by keeping, for example, a zero-hours employee on the books and paying them a small amount before 31 January 2021.
If your business is eligible, you will receive a one-off payment of £1,000 for every eligible employee. Please note that this is a bonus to the employer. The employer does not have to give the money to the employee.
How can you claim?
Before you can claim the bonus, you will need to have reported all payments made to your employee between 6 November 2020 and 5 February 2021 to HMRC through Full Payment Submissions via Real Time Information (RTI).
To receive your bonus for each employee, you need to put in a claim for the bonus in a 6-week window between 15 February and 31 March 2021.
More information and help
Further guidance can be found at: https://www.gov.uk/guidance/check-if-you-can-claim-the-job-retention-bonus-from-15-february-2021
Alternatively, if you would like further help or assistance, please get in touch by emailing firstname.lastname@example.org or telephone 01327 317537.