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Reward your staff this Christmas

with HR:4UK’s Tax Paid Gift Card

 

 

Christmas is about giving and at this time of the year, many business owners are considering whether they should give their employees a bonus or a reward in appreciation for their contribution to the business.


Businesses need much greater accountability about what and how they pay their employees and account to HMRC for any rewards given to their employees.  


Non-cash rewards can be significantly more affordable and efficient, not to mention highly effective in motivating your staff.  Our multi-store gift cards can be used at many of the nation’s favourite high street stores across the UK both in store and online.


The cost of giving your employees a tax paid gift card through HR:4UK’s tax paid reward scheme in comparison to the gross cost of giving cash in wages including tax and NI contributions gives you a saving of 19.25%.


As an example, to give your employees a £100 voucher, you can see the comparison difference in the table below showing the costs and the savings, between paying a reward by way of cash or by way of our multi store gift card.  

Illustration

 

Description
Cost through pay
Cost through gift card

Cost of gift/cash to employer

£147.06 £95.00
LESS Employee's tax @20%     £29.41 Nil
LESS Employee's N.I. @12%     £17.65 Nil
LESS Employer's N.I. @13.8%    £20.29 Nil
LESS Tax through HR4UK scheme    Nil £23.75
LESS N.I. through HR4UK scheme        Nil £16.39
Total REAL cost  to employer of gift     £167.35 £135.14
     
Saving     19.25% £32.22

It couldn’t be simpler!

If you would like to contact us, click here or you can email incentives@hr4uk.com for more information.