HMRC have published a policy paper explaining the eligibility requirements and what employers need to do to claim the Job Retention Bonus, i.e. a one-off payment to employers of £1,000 for every employee who they previously claimed for under the Coronavirus Job Retention Scheme (which ends on 31 October 2020) and who remains continuously employed through to 31 January 2021. Eligible employees must earn at least £520 a month on average between the 1 November 2020 and 31 January 2021 and must not be serving a contractual or statutory notice period, that started before 1 February 2021. Employers will be able to claim the Job Retention Bonus after they have filed PAYE for January and payments will be made to employers from February 2021. Employers can claim the Job Retention Bonus for all employees who meet the specified criteria, including office holders, company directors and agency workers, including those employed by umbrella companies. The criteria must be met regardless of the frequency of the employee’s pay periods, hours worked and rate of pay. Full guidance will be published by the end of September.
Details published about the Job Retention Bonus scheme
Article by: Makbool Javaid, Partner - Simons Muirhead & Burton |