The bonus is being introduced to provide additional support to employers who keep on their furloughed employees in meaningful employment, after the government’s Coronavirus Job Retention Scheme (the Scheme) ends on 31 October 2020.
The Job Retention Bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed for under the Scheme, and who remains continuously employed through to 31 January 2021. Eligible employees must earn at least £520 a month on average between the 1 November 2020 and 31 January 2021. Employers will be able to claim the Job Retention Bonus after they have filed PAYE for January and payments will be made to employers from February 2021.
An employer will be able to claim the Job Retention Bonus for any employees that were eligible for the Scheme and they have claimed a grant for.
For further details, see https://www.gov.uk/government/publications/job-retention-bonus/job-retention-bonus