Payroll Legislation

What is the Job Retention Bonus?

Legislation

What is the Job Retention Bonus?

Due Date

Februrary 2021

Summary

The government has introduced a Job Retention Bonus of £1,000 for every furloughed employee who remains continuously employed through to the end of January 2021. Employees must, on average, 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.

What you need to do now If you intend to claim the Job Retention Bonus:
• 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 told us about any changes needed (for example if they’ve received too much or too little).

Further guidance on how you can claim the bonus online, will be available by the end of September.

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