Job Retention Bonus for Employers announced  

  • Posted

12th October 2020

 

The Government has set out details of the Job Retention Bonus to be paid out to employers next year.  The bonus has been brought out to incentivise employers to keep employees employed until 2021, in an attempt to reduce the number of potential redundancies made due to Covid-19.  It is for employers who have furloughed workers and retained them in employment until 31 January 2021.  If an employer has had workers on furlough leave at some point in 2020 and they remain employed until 31st January 2021 they will qualify for the bonus.

 

The Government will make a payment of £1,000 to the employer for each eligible employee. This is a bonus to the employer, and the employer is not required to pass it over to the employee.  To receive the bonus, the employer must have paid a salary of at least £1,560 to the employee between 6 November 2020 and 5 February 2021.  Employers need to claim for the bonus between 15 February and 31 March 2021.

 

Further Advice

 

If you would like any Covid-19 Business advice, please get in touch with our Employment and Commercial Solicitor Sasha Brine 07475069698.