On 8 July 2020, the Government announced the Job Retention Bonus to encourage employers to retain furloughed employees or workers.
The bonus is to be paid to jobs furloughed before 5 July 2020.
The bonus is a one-off payment of £1,000 for every furloughed employee who remains continuously employed through to the end of January 2021.
You need to remember that employees must earn above the Lower Earnings Limit (£520 per month) on average between the end of the Coronavirus Job Retention Scheme and the end of January 2021.
Payments will be made from February 2021.