Job Retention Bonus Scheme Update

HMRC has released further details of how jobs will be protected through the government’s new Job Retention Bonus.

The Job Retention Bonus scheme, previously announced Chancellor Rishi Sunak as part of his Plan for Jobs last month, will see businesses receive a one-off payment of £1,000 for every previously furloughed employee if they are still employed at the end of January 2021.

The scheme is 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.

In a policy statement from the HMRC, the government further details the eligibility requirements for employers and how they can claim the bonus:

  • employers will receive a one-off payment of £1,000 for every employee who has previously been furloughed under Coronavirus Job Retention Scheme (CJRS) – if they remain continuously employed to the end of January 2021
  • to ensure the jobs are meaningful well-paid, employees must earn at least £520 (the National Insurance lower earnings limit) a month on average between the beginning of November and the end of January
  • those who were furloughed and had a claim submitted for them after the 10 June (when the CJRS closed to new entrants), because they were returning from paternal leave or time serving as a military reservist will also be eligible for the bonus as long as they meet the other eligibility criteria
  • employers will also be eligible for employee transfers protected under TUPE legislation, provided they have been continuously employed and meet the other eligibility criteria and the new employer has also submitted a CJRS claim for that employee

Chancellor of the Exchequer, Rishi Sunak, said:

Our successful furlough scheme will continue to help businesses and protect millions of jobs until the end of October – and our additional £1,000 job retention bonus will ensure this support continues as our economy reopens and people return to work.

We will support jobs and businesses as we come out of this crisis just as we did as we came into it.

Full guidance on the Job Retention scheme will be published by the end of September.

Full information can be found on the GOV.UK website.

Categories

Get in touch

Call our team today on

01905 677 888

Or E-mail our team today

Click here to make an enquiry
    By submitting this form, you acknowledge and consent to the data in this application form being held on the shared database in accordance with the Data Protection Act 2018. By submitting this form you consent to receiving information on grants, business support and funding schemes via telephone, mail and email by partners. For further information please visit http://www.business-central.co.uk/data-statement/
  • This field is for validation purposes and should be left unchanged.

By using this website you agree to accept our Privacy Policy and Terms & Conditions