Although the Coronavirus Job Retention Scheme (CJRS) ends on 31 October 2020; all employers who have furloughed staff are eligible for the Job Retention Scheme Bonus (JRSB).
The JRSB forms part of the UK Government’s strategy to support businesses and retain jobs and will be a valuable source of additional income to those businesses which qualify.
The JRSB will pay £1,000 to the employer for each eligible employee as a one-off payment. The payment will be subject to taxation on the employer.
In order to make a claim for the JRSB the employer must;
• have a UK bank account;
• have complied with their obligations to pay and file PAYE under RTI reporting for all employees to the end of January 2021; and
• satisfactorily dealt with any CJRS queries raised by HMRC.
For an employee to be eligible they must;
• have been furloughed and the subject of a CJRS claim;
• have been continuously employed to 31 January 2021;
• paid at least £1,560 (the minimum income threshold) for the tax months 6 November 2020 to 5 February 2021 (usually therefore for the period 1 November 2020 to 31 January 2021). They must also have received some income in each of those 3 months, but not necessarily £520 in each; and
• not be serving a contractual or statutory notice period which started before 1st February 2021.
Other points to note on a claim are:
• Claims will be able to be made online between 15 February and 31 March 2021.
• Claims can be made for office holders and Company Directors. There is also guidance available whereby a new employer may be eligible to claim the grant where employees have been transferred under TUPE or there is a business succession.
By Linda Price, Partner