Coronavirus Job Retention Bonus July 2020

On 31st July 2020 new guidance was released on the Coronavirus Job Retention Bonus scheme.

The scheme provides a one-off payment to employers of £1,000 for each employee that was previously furloughed and who remains continuously employed on 31st January 2021. To be able to claim for an employee, they must earn at least £520 a month on average between 1 November 2020 and 31 January 2021. Claims can be made by employers after January’s PAYE has been filed, and payments can be expected from February 2021. Failure to maintain good payroll records and data relating to furlough may jeopardise an employer’s claim, so employers are urged to ensure their records are well maintained. More details about the claims process is expected in September 2020.

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