Job Retention Bonus
29th of October, 2020Job Retention Bonus Scheme
The new Job Retention Bonus Scheme will benefit those employers who have had staff on furlough and who have successfully made a claim under that scheme (the Coronavirus Job Retention Scheme). This is if a successful claim was made at any point, regardless of whether or not that employee has since returned to full time work.
The conditions are as follows:
- The employee needs to have been included in a successful claim under the Coronavirus Job Retention Scheme.
- The employee needs to have been kept “continuously employed” from the end of the last claim period under the Coronavirus Job Retention Scheme to 31 January 2021.
- The employee must be paid at least something, but not any specific amount, in each of the months 6 Nov – 5 Dec; 6 Dec – 5 Jan and 6 Jan to 5 Feb 2021 and the total for this 3 month period paid to the employee must be at least equal to £1,560 gross. (This is £120 per week). So it is an average over 3 months, rather than a requirement to be paid at least £120 every week.
- If an employee has statutory sick pay or unpaid leave, the minimum income thresholds still have to be met.
- A claim cannot be made if an employee is serving notice – including notice due to retirement.
The Job Retention Bonus can then be claimed from 15 February 2021, by a mechanism yet to be confirmed. It has been confirmed though that Agents will be able to claim the bonus on your behalf.
Claims will need to be made by 31 March 2021.
