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Job retention bonus

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HMRC has now issued (some) further details on the job retention bonus, the additional support to employers retain, in meaningful employment, their furloughed employees after the Coronavirus Job Retention Scheme ends on 31 October 2020.

The job retention bonus is a one-off payment of £1,000 for every employee for whom a claim was made under the furlough scheme 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; have up-to-date RTI records for the period to the end of January and are not serving a contractual or statutory notice period.

Employers will be able to claim the bonus after they have filed PAYE for January; payments will be made from February 2021.

HMRC’s advice is that employers should ensure that they have:

  • accurately submitted all of their Coronavirus Job Retention Scheme claims and notified HMRC of any necessary amendments have been notified to HMRC
  • complied with their obligations to pay and file PAYE accurately and on time under the Real Time Information reporting system for all employees
  • maintained enrolment for PAYE online
  • a UK bank account

Employers must keep their payroll up to date and accurate and address all requests from HMRC to provide missing employee data in respect of historic Coronavirus Job Retention Scheme claims. Failure to maintain accurate records may jeopardise an employer’s claim.

Capital Gains Tax

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