Directors Eligibility for the Job Retention Bonus
The Job Retention Bonus was announced as an encouragement for Employers to retain those employees that were furloughed.
A one-off payment of £1,000 to the employer, it’s certainly worth having, and can be claimed between 15th February 2021 and 31st March 2021.
More details can be found here.
We were asked this week whether a business could claim the bonus if a Director had been furloughed, and the answer is yes!
For the business to qualify, the Director who was furloughed must be paid more than £1,560 during the period 6th November 2020 to 5th February 2021 (i.e. £520 per month). The Director must receive at least one payment of taxable earnings (of any amount) in each of the relevant tax months, and the payments must be part of your RTI submissions for each month.
The claim process will be announced by HMRC in January 2021.
If you’re unsure about any of the above, do get in touch, or speak to your payroll agent. Whilst the process for making a claim hasn’t yet been announced, we would assume they will be able to submit the claim on your behalf after 15th February 2021.
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