What we can expect in the early part of next year
HMRC have just released a bit more information on what we can expect in the early part of next year.
Job Retention Bonus
Employers will be able to claim a one-off payment of £1,000 for every employee they have previously received a grant for under the Coronavirus Job Retention Scheme (CJRS) and who remains continuously employed through to the end of January 2021.
To be eligible, the employee must have received earnings in November, December and January, and must have been paid an average of at least £520 per month, and a total of at least £1,560 across the three months.
As the employer, you or your clients will be able to claim the bonus after you have filed PAYE information for January 2021, and the bonus will be paid from February 2021. More detailed guidance, including how employers can claim the bonus online will be available by the end of September.
Call to action
Most of the payrolls we do all the employees earn more than £520 per month but if you do your own payroll and some staff are below this it might be worth considering increasing their monthly salary for the three months to get the bonus. Therefore an employer with three staff will receive a bonus of £3,000, as long as all staff were at some time furloughed previously.