Coronavirus Job Retention Scheme
The scheme helps employers to pay salaries for employees who would otherwise have been laid off during Coronavirus lockdown. The scheme continues until the end of October 2020, with tapering from August 2020. Find out more about the scheme.
The grant is now being tapered until October to help people return to work. The details of this tapering are outlined in the key dates section below.
What is the Job Retention Bonus?
Job Retention Bonus is a one-off payment of £1,000 per furloughed employee who is still employed on 31 January 2021.
To be eligible for this, employees must have been continuously employed until 31 January 2021, have earned an average of more than £520 per month in November, December and January and have been furloughed and successfully claimed for under the Coronavirus Job Retention Scheme.
Important dates to remember
August 2020 – tapering begins. The Government pays 80% of wages for non-working time when employees return to work part time, up to a cap of £2,500.
September 2020 –The Government pays 70% of wages for non-working time when employees return to work part time, up to a cap of £2,187.50. Employers pay 10% of wages to make up 80% up to a cap of £2,500.
October 2020 – The Government pays 60% of wages for non-working time when employees return to work part time, up to a cap of £1,875. Employers pay 20% of wages to make up 80% up to a cap of £2,500.
31 October 2020 – the Coronavirus Job Retention Scheme will end.
31 January 2021 – Business can claim the job retention bonus for employees who have remained employed since before 19 March 2020 and has been furloughed.
Useful tools and calculators
- Find out more about the scheme.
- Check which employees are eligible for the scheme.
- Make a claim online with HMRC.
- Steps to take before calculating your claim.
- Calculate how much you can claim.
- Contact the Growth Hub for information and support.
Help and Support
The Sheffield City Region Growth Hub can help you. You can contact us for information and support.