Job Retention Bonus factsheet
20 October 2020
Now that further detailed guidance has been issued relating to the Job Retention Bonus (JRB), the CIPP’s Policy and research team has produced its latest factsheet, which covers the scheme that is being implemented in order to encourage employers to take employees off furlough and return them to work.
The factsheet has been designed so that busy payroll professionals can review information on the bonus in one consolidated document, and will have the opportunity to print the sheet off to refer to as and when they require it.
The factsheet covers:
- What the JRB is
- Employer eligibility
- Employee eligibility
- The minimum income threshold
- The claims process
- Additional considerations
The minimum income threshold is a requirement meaning that employees must be paid at least £1,560 across the three relevant tax periods of 6 November 2020 - 5 December 2020, 6 December 2020 – 6 January 2021 and 6 January 2021 – 5 February 2021. The factsheet details what this can be made up of, and confirms that there are no rules around the apportionment of pay, as long as the minimum of £1,560 is paid, and that payment of some description is made in each of the tax periods.
Locate the factsheet in its entirety here.
The information in this article is accurate at the time of publication. For all the latest information, news and resources on how the COVID-19 pandemic is affecting payroll professions, visit our Coronavirus hub.