Job Retention Bonus
The Job Retention Bonus allows employers to claim a one-off payment of £1,000 for every employee they have previously received a grant for under CJRS and who remains continuously employed through to the end of January 2021.
To be eligible, the employee must have received earnings in November, December and January and must have been paid an average of at least £520 per month, a total of at least £1,560 across the three months.
Employers will be able to claim the bonus after they have filed PAYE information for January 2021, and the bonus will be paid from February 2021. For more information go to HMRC's website GOV.UK.
What employers need to do now
If employers intend to claim the Job Retention Bonus, they must:
- Ensure all employee records are up to date
- Accurately report employees’ details and wages on the Full Payment Submission (FPS) through the Real Time Information (RTI) reporting system
- Make sure all CJRS claims have been accurately submitted and they have informed HMRC about any changes needed (for example if they’ve received too much or too little)