To support flexible working policies, many companies are now introducing Holiday Trading as a highly valued benefit for their employees.
Our Holiday Scheme really appeals to employees looking to take extra days off to spend more time with family or to extend their annual leave. This works as a salary sacrifice arrangement and therefore has the added advantage of saving your company money in salary costs and National Insurance.
Alternatively, it may be used by employees who are looking to boost their take home pay, in which case they can sell some of their holiday entitlement. Either way Holiday Trading allows employers to offer a fair and compliant benefit while giving employees more flexibility with their lifestyle.
We’ll provide you with:
- Full administration including enrolment, marketing and compliance
- HMRC compliant documentation
- Flexibility to run holiday buying, holiday selling or both
- Flexible election windows and scheme rules
- Dedicated employee support including telephone enrolment
- HR administration tools and management information
- A Government backed fully HMRC compliant salary sacrifice benefit
- Employers can save NICs on the full value of holidays traded
- Employees can save up to 42% in tax and NI
- Holiday days are normally valued at 1/260th of gross basic salary
- If employees sell days, the value is added to their gross pay and tax and NI is paid as normal
- Schemes can be run as holiday buying, holiday selling or both and typically run through one election window per year.