CJRS Job Retention Bonus
The Treasury has issued a direction which confirms the eligibility criteria for the Job Retention Bonus. This is very much as anticipated and I set out the main details below:
- The bonus is available in relation to every employee who has been on furlough at some stage and remains employed and not under notice of termination as at 31 January 2021.
- HMRC will make a payment of £1,000 to the employer for each employee who meets the above criterion. This is solely for the employer and there is no obligation to pass on all or part of this bonus to the employee.
- To be entitled to the bonus, the employer must have paid a salary of at least £1,560 to the employee between 6 November 2020 and 5 February 2021. This is an anti-abuse measure to prevent employers keeping employees on the payroll but paying them nothing (a zero hours arrangement) or a minimal sum.
- The claim for the bonus needs to be submitted between 15 February and 31 March. The mechanics of the claim submission are not yet detailed and so we are expecting further information about this.
Here to Help
If you need more information about Job Retention Bonus or any other aspect of the Government’s Coronavirus Job Retention Scheme, please contact Richard Gvero, Head of Commercial and Employment by e-mail on Richard.email@example.com.
Please note the contents of this blog are given for information only and must not be relied upon. Legal advice should always be sought in relation to specific circumstances.