On Friday afternoon, the Treasury issued a Treasury Direction providing further information relating to the CJRS Job Retention Bonus (Bonus).
Although not available until February 2021 (further details of how to claim are to be released in January 2021), here is a summary of the key points relating to the Bonus:
- The Bonus will consist of a one-off, tax free payment of £1,000.00 for each “eligible employee”.
- To be eligible, an employee will have to have been furloughed at some stage and still remain in employment (and not be under notice) at 31 January 2021.
- An employee will have to have been paid at least £1,560.00 (gross) between the period 6 November to 5 February 2021
- Employers will be able to claim the bonus between 15 February 2021 and 31 March 2021.
Here’s a link to the Treasury Direction and Guidance:
As soon as details of how employers can claim are announced, we will provide a further update.