The Job Retention Bonus (JRB) was an incentive previously announced by the government, the purpose of which was to encourage employers to keep individuals employed until the end of January 2021 by providing a one-off £1,000 bonus per eligible employee.
Following the government’s announcement on 5 November 2020 extending the Coronavirus Job Retention Scheme until 31 March 2021, the government announced that the JRB has been cancelled as it no longer applies and that a new retention incentive would be introduced at an appropriate time.
We expect further updates and guidance to be provided in connection with the new incentive in the future.
If you would like any assistance regarding the Job Retention Bonus please contact the Employment Tax team on email@example.com or your usual PEM contact.
The above is based on the guidance as at 5 November 2020.