HMRC Unveils Further Details on the Job Retention Bonus

    View Author July 2020

    Having left BEIS to unveil the “stick” yesterday (namely that employers who make furloughed employees redundant will need to pay them at their pre-furloughed rates - see alert on how badly that went for them here), today HMRC has issued more detail on the “carrot” – the Job Retention Bonus scheme -- by way of an announcement and some accompanying guidance. The JRB will see businesses receive a one-off payment of £1,000 for every previously furloughed employee who is still employed at the end of January next year. This is not taxable and does not have to be paid on to the employee in question. The message is clear – if at all possible, the government wants employers to retain employees once the furlough scheme ends.