holiday trading

Health & Wellbeing

Holiday Trading

holiday trading
To support flexible working policies, many companies are now introducing holiday trading as a benefit for staff, which contributes greatly to employee satisfaction.

Our holiday trading scheme is set up and run for each client on a bespoke basis according to your exact rules and requirements.

You have the flexibility to choose how the scheme works for you and set up your own rules. You can restrict the scheme to just buying or just selling holiday, depending on your company’s needs.

So whether you want to reduce your salary and National Insurance bill or simply get more man hours from your existing workforce, the holiday trading scheme could really help.

Key Holiday Trading Benefits

This salary sacrifice scheme really appeals to staff looking to take extra days off to spend more time with family or to go on a long holiday.

Employee Benefits:

  • Employees pay for the extra days from their gross salary over a set period, spreading the cost
  • They make savings on tax and NI
  • Allows employees to take extra time off for special events or just to spend more time with family
  • Helps staff achieve a better work / life balance.

 

Employer Benefits:

  • Employers can save money in salary costs and reduced employer NI
  • Where employees opt to sell holidays, employers benefit from additional man hours from existing staff, reducing the need to recruit
  • Helps to improve staff retention and reduce absenteeism.

 

Here’s an example of savings you could make through holiday trading:

50 employees who are basic rate taxpayers, buying 5 days holiday each.

This would save you over £21,000 in salary payments and employer’s NI.

For more on what our Holiday Trading scheme can do for you and your company, take a look at our scheme overview, or give us a call!