Further detail on the Job Retention Bonus scheme issued by HMRC

HMRC have now provided some further information on the Job Retention Bonus that can be claimed between 15 February 2021 and 31 March 2021.

The full details can be found at this link Job Retention Bonus which will be update by the end of January 2021 but the key points are as follows:

• A one-off taxable sum of £1,000 can be claimed for each eligible employee that has been furloughed and kept continuously employed until 31 January 2021. There is no minimum furlough period as long as an eligible furlough claim has been submitted for that employee previously
• The employee must have been continuously employed from the end of the last furlough claim period until 31 January 2021 and must not serving a contractual or statutory notice period as at 31 January 2021
• The employee must have been paid at least £1,560 (of gross taxable pay) in total between 6 November 2020 and 5 February 2021, with at least one taxable payment made in each monthly period between these dates
• Claims will be possible from 15 February 2021 once all RTI submissions up to 5 February are complete
• The bonus can still be claimed where a claim is made through the Job Support Scheme.

We will be providing further detail on this as it becomes available.