Friday, 31 July, 2020
Chancellor of the Exchequer, Rishi Sunak, presented his 'Plan for Jobs' on 8 July 2020, outlining how the Government will support the UK's economic recovery from coronavirus (COVID-19), while continuing to prioritise people's health.
Part of the Plan includes the introduction of a Job Retention Bonus, providing additional support to employers who keep on their furloughed staff in meaningful employment, after the Coronavirus Job Retention Scheme (CJRS) ends on 31 October 2020.
The Bonus is a one-off payment to UK employers of £1,000 for every employee who they previously claimed for under the CJRS scheme, and who remains continuously employed through to 31 January 2021.
Eligible employees must earn at least £520 a month on average between 1 November 2020 and 31 January 2021. Employers will be able to claim the Bonus after they have filed PAYE for January and payments will be made to employers from February 2021.
Rishi Sunak, said:
'Our successful furlough scheme will continue to help businesses and protect millions of jobs until the end of October – and our additional £1,000 Job Retention Bonus will ensure this support continues as our economy reopens and people return to work.'
More details about the claims process will be published by the end of September 2020.
More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.