How Do I Claim the Job Retention Bonus?
From 15 February 2021, employers will be able to claim the Job Retention Bonus (JRB) through the Government website.
The JRB will be a one-off payment of £1,000 to the employer for every eligible employee that is claimed for.
The bonus will be taxable, so you must include the whole amount as income when calculating your taxable profits for Corporation Tax or Self-Assessment.
You should ensure that your employee records are up to date, including accurately reporting your employee’s details and wages on the Full Payment Submission through RTI.
You should also make sure that all your Job Retention Scheme claims have been accurately submitted and any necessary amendments have been notified to HMRC.
You will have until 31 March 2021 to make a JRB claim after which the scheme will close. No further claims will be accepted after this date. This article will be updated by the end of January 2021 with details on how to access the online claim service.
If you have any questions regarding the support available, please don’t hesitate to contact us.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation