Guidance Update from TravLaw on the JRB
After announcing the Job Retention Bonus earlier in the summer, the government has now produced the guidance providing detail of how the JRB will work in practice. BETA member Travlaw have outlined the key points below.
The JRB is available to employers in respect of each employee who:
- has been on furlough at some point, and
- remains employed and not under notice on 31st January 2021, and
- has been paid a salary of at least £1560 between 6th November 2020 and 5th February 2021
- HMRC will make a payment of £1000 to the employer for each eligible employee.
- The JRB is paid to the employer, who does not have to pass it on to the employee.
- The JRB is taxable.
- If the employer has repaid the Coronavirus Job Retention Scheme grant back (furlough), they will not be eligible for the JRB, irrelevant of the reasons for repayment.
- Employers have six weeks to claim the JRB between 15th February and 31st March 2021.
For further details please see the government guidance here
Find out more about BETA Member Travlaw here
Correct as of 5 October 2020