Details of the Chancellor’s Job Retention Scheme Bonus have now been published. Here is a check list to see if you might be eligible to apply.
- The Scheme is available to employers in respect of each employee who has been on furlough at some point, who remains employed and is not under note as at 31st January 2021.
- HMRC will make a payment of £1,000 to the employer for each eligible employee. The money is for the employer, it does not need to be passed on to the employee.
- To receive the bonus, the employer must have paid a salary of at least £1,560 to the employee between 6th November 2020 and 5th February 2021.
- Claims will be made between 15th February and 31st March 2021. As yet there are no details as to how to make the claim but doubtless there will be more information nearer the time.
- The money is taxable so must be declared when you calculate your corporation tax.
If you need help with any staff related issues, please contact me on 07766 167160 or through my website at www.bdroper-hr.co.uk