Job Retention Bonus Details Announced

Job Retention Bonus Details Announced

The Chancellor of the Exchequer, Rishi Sunak, presented his ‘Plan for Jobs’ to Parliament on Wednesday 8 July 2020 outlining how the government will support the UK’s economic recovery while continuing to prioritise people’s health. As part of this, the government is introducing a new Job Retention Bonus (JRB) to provide additional support to employers who keep on their furloughed employees in meaningful employment, after the government’s Coronavirus Job Retention Scheme ends on 31 October 2020.

The Job Retention Bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the scheme, and who remains continuously employed through to 31 January 2021.

Eligible employees must earn at least £520 a month on average between the 1 November 2020 and 31 January 2021.

Employers will be able to claim the Job Retention Bonus after they have filed PAYE for January and payments will be made to employers from February 2021.

 

Visit the official guidance to read more about:

Which employers can claim the JRB, including clarifying the eligibility of employers that have employees who have been transferred under Transfer of Undertakings (Protection of Employment) (TUPE) regulations or due to a change in ownership;

Which employees an eligible employer can claim the JRB for, including clarifying eligibility for employees returning from statutory parental leave, for military reservists and employees who are on fixed term contracts;

What employers should do now if they intend to claim the Job Retention Bonus

Please note that full guidance, including on how employers will be able to claim the JRB, will be available by the end of September.

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