As COVID-19 has impacted thousands of businesses, the government has promised to pay a job retention bonus to employers, which will include £1,000 per employee.
Who Will Qualify For The Bonus?
Although the full details regarding the bonus are yet to be announced, we do know that to quality, an employee must:
- Have been on furlough and included in a coronavirus job retention scheme (CJRS) claim by the employer.
- Have been continuously employed by the employer from the last furlough period until at least 31st January 2021.
- Receive a salary of at least £1,560 for the period 1st November 2020 to 31st January 2021.
- Not, on 31st January 2021, be serving a contractual or statutory notice period to cease their employment.
This bonus may apply to all employees, including directors and agency workers, providing that they meet the criteria. However, it is expected that more conditions will be announced to prevent fraud. As for the employer, all RTI records must be up to date to cover all periods up to and including 31st January 2021. The bonus will also be taxable income for the employer, not the employee.