A few weeks ago the Chancellor announced a Job Retention Bonus to incentivise employers who keep furloughed employees until the end of January next year. We now have a bit more detail about the scheme, so here are some key facts.
Which employers can access the scheme?
All employers can access it, as long as they have been using the furlough scheme.
How much is the bonus?
The bonus is £1,000 per eligible employee (see below)
Who is an eligible employee?
You can claim the bonus in respect of employees who you have made a claim for through the Coronavirus Job Retention (furlough) Scheme.
If they have been on furlough with a previous employer and have transferred to you under a TUPE transfer, or by other means, you cannot claim the bonus for them.
Eligible employees must have earned an average of £520 a month in the period between 1 November 2020 and 31 January 2021.
They must have been continuously employed by you since the last furlough claim you made for them, and must still be employed by you on 31 January 2021 and not serving any notice period at that time.
How can I claim?
Further details will be released in due course, but you will be able to claim from February 2021.
If you’d like further information and advice on the Job Retention Bonus, do get in touch.