COVID-19: job retention bonus

Last month, Chancellor Rishi Sunak announced the Job Retention Bonus, as part of the Government support plan regarding the Coronavirus pandemic. More details have now been released…

We knew already that employers will receive a payment of £1,000 per employee who has been furloughed at any point, and who is still in their job at the end of January 2021.

We now know that, to be eligible, the following criteria must apply:

• The employee must have received earnings in November, December and January

• The employee must have been paid wages in those months of at least £520 per month (and a total of at least £1,560 across the three months)

Employer’s will be able to claim the bonus after the PAYE information for January 2021 has been filed, with the bonus being paid from February 2021.