Job Retention Bonus (JRS)
15th October 2020HMRC have announced more details on the Job Retention Bonus scheme they set forth in July. The JRS allows an employer to claim a one-off payment of £1000 per employee furloughed and claimed for through the CJRS and kept employed until at least 31st January. This money is to be paid to the employer and it does not have to be passed on to the employee.
Employers can claim this money post 15th February through to 31st March 2021 subject to the following conditions:
- Employees must have been paid at least the minimum income threshold of £1,560.00 in the thirteen week pay period between 6 November 2020 & 5 February 2021.
- Employees must be receiving taxable income throughout the pay period.
- Employees must not be serving contractual or statutory notice pay at the time of the claim.
- Employees on the JSS can be claimed for.
- Any employee can be claimed for. This includes company directors if they have been part of a furlough claim. It also includes employees back in full-time employment after a period of furlough.
It should be noted that the bonus is taxable for Income Tax & Corporation Tax purposes.
Disclaimer - All information in this post was correct at time of writing.
