HMRC outlines Job Retention Bonus criteria
HMRC has outlined the eligibility requirements for the Job Retention Bonus (JRB) that follows the furlough scheme.
The government’s Coronavirus Job Retention Scheme ends on 31 October 2020 and the JRB aims to provide additional support to employers who keep on their furloughed employees in meaningful employment.
The JRB is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the 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. Employers will be able to claim the JRB after they have filed their PAYE submissions for January and payments will be made to employers from February 2021.
All employers are eligible for the scheme. They should ensure that they have complied with their obligations to pay and file PAYE accurately and on time under the Real Time Information (RTI) reporting system, maintained enrolment for PAYE online, and have a UK bank account.
Employers will be able to claim for employees who were furloughed and had a Coronavirus Job Retention Scheme claim submitted for them that meets all relevant eligibility criteria for the scheme.
They must have up-to-date RTI records for the period to the end of January and employees must not be serving a contractual or statutory notice period, that started before 1 February 2021, for the employer making a claim.
HMRC will publish further details about this process before the end of September 2020.
The current HMRC guidance can be found at: GOV.UK publications
How can we help?
Hawsons has a dedicated team of highly qualified and experienced tax specialists who provide corporate and personal tax advice from our offices in Sheffield, Doncaster, and Northampton.
Our tax team works together to provide proactive, well rounded, technically robust tax advice at all stages of a business’ life cycle – from incorporation, right through to exit, wherever in the world you do business.
More from our tax experts
You can find all of our latest tax articles and tax resources here.
If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.
Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.
Free initial meeting
Tax Director, Sheffield