Updated: Oct 15, 2020
As part of the measures to encourage employers to retain employees as the Coronavirus Job Retention Scheme (Also known as Furlough) withdraws, the government has announced a £1000 bonus per employee for employers.
Employers will receive a payment of £1000 for each qualifying employee in February 2021. For an employee to qualify the following conditions must be met:
· Must have been furloughed under the Coronavirus Job Retention Scheme
· Must have been continually employed from their return from furlough until January 31st 2021
· Must have earnt over £1560 between the 1st of November 2020 and 31st of January 2021
· Must not be serving their notice before the 1st of February 2021
If any illegitimate claims for the scheme have been made previously this will impact on eligibility for bonus. Therefore, it is important that all claims made under the scheme are checked before the 20th of October and all errors corrected.
The Government have allowed a 90-day amnesty period for all errors to be corrected without penalty.
Further guidance on how to claim is expected in September 2020.
All advice and services included in our blogs can be offered by our staff at MJ Baker Accountancy. Please fill in our contact form if you would like tailored advice for your business.
MJ Baker Accountancy