Are you an employer and have furloughed your staff during the Coronavirus pandemic? If so, you might be entitled to receive the Job Retention Scheme Bonus.
The Job Retention Scheme Bonus is a £1,000 one-off taxable payment to the employer, for each eligible employee that your furloughed and kept continuously employed until 31 January 2021. You do not have to pay this bonus to your employees.
You can claim for employees that:
- you made an eligible claim for under the Coronavirus Job Retention Scheme
- you kept continuously employed from the end of their Furlough until 31 January 2021
- the employees must earn at least £1,560 between 6 November 2020 and 5 February 2021 and have received earnings in the November, December and January tax months.
The bonus will be available to claim from 15 February until 31 March, once the PAYE information has been submitted up to 5 February 2021.
For full guidance on the HMRC scheme, please visit the HMRC website.
If you have any questions about the bonus, we would be more than happy to help! Please contact our payroll department.