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Holiday Exchange

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Holiday Exchange Scheme Gemelli Employee Benefits

A better Work-Life balance with our Holiday Exchange Scheme...
Outside of work, we all lead very different lives. Our reasons for working and what we choose to do with our free time are as individual as we are. Our hobbies, responsibilities and commitments will vary widely, but for each of us, our general well-being, happiness – and our productivity in the workplace, are dependent on getting the balance right between work, and everything else that’s important to us. While we all aspire to this perfect work-life balance, achieving it is not always easy. Demands on our time can fluctuate for many reasons, with the result that the fixed annual leave allowance we receive as part of our package is not always sufficient. The Gemelli Holiday Exchange Scheme offers increased flexibility to employees and business owners, enabling employees to better manage their work-life challenges, improving workplace motivation – and helping both parties to save money.

How does our Holiday Exchange Scheme work?
The scheme gives employees the option to extend their contracted annual leave allowance by purchasing additional days holiday. How any extra days are used is up to the individual; they might choose to use them to spend quality time with their family, or put them towards a special event like taking an extended holiday, getting married or moving house. Operating on a salary exchange basis, employees can save up to 47% in Tax and National Insurance on the cost of buying unpaid leave, and spread the cost across 12 months, while their employer will save on their Tax and National Insurance Contributions.

Example Saving - The example below shows the savings for an employee taking an additional 5 days leave, repaying over 12 months:

Tax Band

Salary

Gross Cost of Additional Leave

Net Cost of Additional Leave

Tax and NI Savings

Monthly Deduction from Net Salary

Basic rate

£30K

£574.70

£390.84

£183.86

£32.57

Higher rate

£40K

£766.25

£444.48

£321.77

£37.04

 

Benefits to Employers
Attract and recruit the best staff.
Motivates staff, engender loyalty and improve retention.
Reduce absenteeism.
Reduce payroll costs and save up to 13.8% on Employer National Insurance contributions.

Benefits to Employees
Improve well-being and achieve a better work-life balance.
Enjoy greater freedom and flexibility.
Save up to 47% in tax and National Insurance contributions.
Spread the cost of extra days over 12 months.

The Gemelli Holiday Exchange Scheme can be implemented in businesses of any size, from those that have just a few employees, to those with thousands. We’ll take care of all administration, and get the scheme up and running so that all employers and employees have to do is start enjoying the benefits! We can structure the scheme in a way that best suits the business.

Find out more...
To find out more about the Gemelli Holiday Exchange Scheme, and how it can help promote a happier and more productive workforce, call us now on 01280 851113, or email us.

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