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.
Further information has been released on the scheme including confirmation on eligibility and when you will be able to claim.
Employers will be able to claim for employees who:
- were furloughed and had a CJRS claim submitted for them that meets all relevant eligibility criteria for the scheme;
- have been continuously employed by the relevant employer from the time of the employer’s most recent claim for that employee until at least 31 January 2021;
- have been paid an average of at least £520 a month between 1 November 2020 and 31 January 2021 (a total of at least £1,560 across the 3 months). The employee does not have to be paid £520 in each month, but must have received some earnings in each of the three calendar months that have been paid and reported to HMRC via RTI;
- have up-to-date RTI records for the period to the end of January 2021; and
- are not serving a contractual or statutory notice period, that started before 1 February 2021, for the employer making a claim.
Employers can claim the Job Retention Bonus for all employees who meet the above criteria, including office holders, company directors and agency workers, including those employed by umbrella companies. The above criteria must be met regardless of the frequency of the employee’s pay periods, their hours worked and rate of pay.
From February 2021, employers will be able to claim the Job Retention Bonus through GOV.UK. More details about this process will be published in guidance by the end of September 2020.
What should you do now if you intend to claim the Job Retention Bonus
Employers should ensure that their employee records are up-to-date, including accurately reporting their employee’s details and wages on the Full Payment Submission (FPS) through the Real Time Information (RTI) reporting system. Employers should also ensure that all of their CJRS claims have been accurately submitted and any necessary amendments have been notified to HMRC.