Employee Service and Loyalty Award Gift Options

Posted on July 26, 2012 by Nigel Havens

I have previously written about the planning for implementing a Company Loyalty and Long Service Award benefits programme. You are now at the stage of choosing a programme and a provider to help you implement a scheme to suit your budgets and that will work with your particular needs. Here are a few of the choices available: Gift Vouchers: Can be done for a specific store group or a wider ranging offer using more general voucher schemes. Whilst it is an easy option, it can also indicate to staff that not much effort has been made to reward them, it … Continue reading →

Inland Revenue Tax On Long Service and Recognition Awards Gifts

Posted on February 12, 2012 by Nigel Havens

The general rules concerning the Inland Revenue Taxation implication on Long Service and Loyalty Awards are fairly straight forward: Employers and Employees are exempt from tax if: 20 Years of continuous service with the same company or subsidiaries of that company. Value of award does not exceed £50.00 for each year of service Must be tangible, normally in the form of a Gift, a non cash Voucher but can be shares in the Company Anything outside this and the excess is taxable which can be paid by the Employer under a PAYE settlement agreement. There is no exemption for Cash … Continue reading →

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