Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme (CJRS), the Government announced that employers will be able to claim a grant from 1 March to cover 80 per cent of employees’ salaries up to a maximum of £2,500 per month.
This scheme originally ran until 30 June. It was then extended until the end of October, with changes effective from 1 July.
The scheme has been extended again with the Government currently paying 80% of wages for the hours of furloughed employees up to a cap of £2,500 for periods from 1 November 2020 until 31 March 2021. The Government will review this policy in January. The scheme will only cover wages, meaning employers will be responsible for paying employer National Insurance contributions and employer pension contributions. As with the previous versions of the scheme, employers can choose to top up furloughed employees’ wages beyond the 80% paid by the government.
Job Support Scheme
The new Job Support Scheme (JSS Open and JSS Closed) has been postponed until December.
Job Retention Bonus
The Job Retention Bonus is a £1,000 one-off taxable payment to employers, for each eligible employee that was furloughed and kept continuously employed until 31 January 2021.
You can claim the bonus if you’re an employer who has furloughed employees and made an eligible claim for them through the Coronavirus Job Retention Scheme. Your employee must have been eligible for the Coronavirus Job Retention Scheme grant for you to be eligible for the bonus.
In-line with the delay in the launch of the Job Support Scheme, the Job Retention Bonus (JRB) (which was originally due to be paid in February 2021) has now also been delayed with the CJRS now being extended to 31 March 2021.
We are expecting HMRC to release an online portal for employers to claim in early 2021.
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