Flexible Holiday Trading for Employee Wellness
New flexibility afforded to employees in allowing them to buy or sell holiday time has led to Holiday Trading becoming a highly valued benefit.
Implementing Holiday Trading Benefits
Employees may be planning a special trip and would like more days off, or they may wish to increase their take-home pay, in which case they can sell some of their holiday allocation.
The number of days that can be bought or sold is predetermined by the employer. If employees buy extra days, the salary adjustment takes the form of a salary sacrifice, with resultant tax and NI savings for both employer and employee. If employees sell days, the value of the days is added to their gross salary, and tax and NI is payable in the usual way. Holiday days are normally valued at 1/260th of gross basic salary.
FlexGenius can advise you of the best way to offer this benefit and can provide a fully- outsourced solution for the management and administration of the scheme.
Why Choose FlexGenius for Holiday Trading
Incentivise employees by offering flexible holiday time and allowing employees to trade salary for additional holiday time. Our team is a fully-sourced solution for managing the scheme.
Employer Benefits with Holiday Trading
Holidays contribute positively to mental health, happier employees work harder. The cost of buying holiday time is taken from the employee’s gross salary, so you'll save on tax and National Insurance.
Employee Benefits with Holiday Trading
Gain choice and control over the work/life balance. Extra holiday time may improve mental health and potentially ease strain and stress when planning travel. You can use sacrifice salary to gain more holiday days.