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Coronavirus Job Retention Scheme: 31 July: Job Retention Bonus

The Job Retention Bonus is aimed to protect jobs by giving employers the opportunity to claim a one-off payment of £1000 for all eligible employees.

On 31 July 2020, HMRC published further details with regard to the eligibility requirements and how employers can claim the bonus.

  • Employees must have been previously furloughed under the Coronavirus Job Retention Scheme (CJRS) and remain in employment through to 31 January 2021;
  • Employees must earn at least £520 a month on average between the beginning of November and the end of January;
  • Employees returning from parental leave or time serving as a military reservist after 10 June will be eligible for the bonus, as long as they meet all of the other eligibility requirements;
  • Employees who have been transferred under TUPE legislation will be eligible as long as they have been continuously employed, meet the other criteria and have had a CJRS claim for them submitted by their new employer.

Employers will not be able to claim for employees who are serving a contractual or statutory notice period that started prior to 1 February 2021

Full guidance is set to be published in September. It remains to be seen whether the retention bonus will be enough to incentivise retention after the end of the CJRS in October.

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