Following the announcement that the Coronavirus Job Retention Scheme (CJRS) has been extended until March, it has been confirmed that the Job Retention Bonus (JRB) has been delayed.
The Job Retention Bonus was originally announced in July and was intended to provide one-off taxable bonus to an employer of £1,000 for each eligible employee that was furloughed but kept continuously employed until 31 January 2021. However, as a result of the CJRS being extended to 31 March 2021, it has been confirmed that a retention incentive will be deployed at the ‘appropriate time’.
We do not currently have any indication on timescales or whether there will be any changes to the scheme. Therefore we anticipate that further guidance will be released in due course.
All updates will be posted on our News page.