Important Information About The Job Retention Bonus

HMRC recently published more information on the Job Retention Bonus which includes details on how to check eligibility and how to get ready to make a claim. This information is available on the Government's website ...

You can search for Job Retention Bonus Policy Statement and it gives more information on the one-off payments of £1,000 per employee who was furloughed under the Coronavirus Job Retention Scheme (CJRS) who remains continuously employed until 31st January 2021.

"Eligible employees must have received earnings in November, December and January!

HMRC says that each employee must also have been paid at least £520 per month to a total of at least £1,560 across the three month period. Employers will be able to claim the bonus after they have filed their PAYE in February 2021. There will be further information released by the end of September.

If you are going to claim the Job Retention Bonus, you must:

- ensure your employee records are up to date
- accurately report employees' details and wages on the Full Payment Submission (FPS) via RTI
- ensure your CJRS claims have been accurately submitted and you have informed HMRC of any changes to your claim

The Coronavirus Job Retention Scheme continues to provide grants for furloughed employees, but from 1st August 2020, is no longer funding employers' National Insurance and pension contributions.

If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.