During his Summer Statement, the chancellor announced key initiatives to help the UK economy recover from the impact of the coronavirus pandemic.
The introduction of the Job Retention Bonus was high up on the agenda.
What is the Job Retention Bonus?
The Job Retention Bonus is a one-off payment to employers for every furloughed employee retained from November 2020 (due to the furlough scheme ending October 2020) to the end of January 2021. The government will award a £1,000 bonus to the employer for each worker still employed by January 2021.