Here is a summary, broadly in line with what we knew was coming:-
- the Job Retention Bonus is available to employers in respect of each employee who (a) has been on furlough at some point; and (b) remains employed, and not under notice, on 31 January 2021.
- HMRC will make a payment of £1,000 to the employer for each eligible employee. This is a bonus to the employer, and the employer does not have 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 (this is to prevent the employer getting a bonus of £1,000 by keeping, say, a zero hours employee on the books and paying them a trivial amount before 31 January 2021).
a claim for the bonus needs to be presented in a 6 week window between 15 February and 31 March 2021. The Treasury Direction does not specify how the claim is to be made, but further guidance is expected.