HMRC publishes guidance on claiming Job Retention Bonus

HMRC recently published guidance on the eligibility requirements for the Job Retention Bonus.

HMRC recently published guidance on the eligibility requirements for the Job Retention Bonus.

From February 2021, employers will be able to claim the Job Retention Bonus through the gov.uk website. The Job Retention Bonus 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 the business must include the whole amount as income when calculating their taxable profits for corporation tax or self assessment.

The guidance states that an employer will be able to claim the Bonus for any employees that were eligible for the Coronavirus Job Retention Scheme (CJRS). Where a claim for an employee was incorrectly made, a Job Retention Bonus will not be payable.

All employers are eligible for the scheme, including recruitment agencies and umbrella companies.

The guidance can be read in full here. HMRC stated that additional guidance on the Job Retention Bonus will be published by the end of September.

ACCA
About our team

Brookwood Accountants is a firm of Chartered Certified Accountants. We aim to provide our clients with a cost effective accountancy solution which adds value to their business.

Learn more

Latest news
Contact Details

Please call:
01926 257 610

Brookwood Accountants Ltd, 158A Parade, Royal Leamington Spa, Warwickshire CV32 4AE

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

© 2020 Brookwood Accountants Ltd. All rights reserved. powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.