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6th October, 2020 by Jonathan Mumby
The Chancellor announced the Job Retention Bonus (“JRB”) as part of his ‘Plan for Jobs’ in July 2020. The JRB is a one-off taxable payment of £1,000 to employers, for each eligible employee who was claimed for under the Coronavirus Job Retention Scheme (“CJRS”) and who remains continuously employed through to 31 January 2021, subject to conditions.
A recently published Treasury Direction has clarified that for an employee to qualify for the JRB:
The JRB is for all employees who meet the above criteria, including office holders, company directors and agency workers, including those employed by umbrella companies. The Government have produced six examples to illustrate how the JRB works in practice.
The Chancellor stated in his Winter Economy Plan, that the JRB will be payable for those employees’ who are on the new Job Support Scheme, our article on this scheme can be read here.
Further detail for employers is available from the JRB guidance and Treasury Direction and includes:
Jonathan Mumby comments:
“The treasury direction and guidance helpfully clarify the circumstances in which employers can claim for the Coronavirus Job Retention Bonus, something which will be of assistance to employers in these difficult financial times."
If you require any assistance or have any questions on the Job Retention Bonus and its impact on your business, please do not hesitate to get in touch with a member of the Howes Percival Employment Team.
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