New guidance on £9 billion Job Retention Bonus

05/10/2020

New guidance on £9 billion Job Retention Bonus has been announced, set to benefit millions of businesses.

  • The Job Retention Bonus, worth up to £9 billion is set to support millions of employers who have kept on furloughed workers
  • The bonus will work alongside newly announced Job Support Scheme and could be worth more than 60% of average wages of workers who have been furloughed – and are kept on until the start of February 2021
  • Businesses can claim for the Bonus from 15 February until the end of March

The scheme is designed to continue to support jobs through the UK’s economic recovery from coronavirus by encouraging and helping employers to retain as many employees who’ve been on furlough as possible. New guidance sets out the information employers who have furloughed employees need to know in order to claim the bonus from the 15 February until 31 March 2021. For further information please click here.

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