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 How To Pay Your Staff Tax Free By Using The Staff Suggestion Scheme!
This scheme is specifically allowed and provided for in the legislation. It is very simple to operate and works as follows…
- Employees can be rewarded for making suggestions and such payments can be made without tax or NI being payable. You get tax relief on the payment through your accounts, just as you do with paying normal salaries.
- There is a maximum limit of £5000 that can be paid if a suggestion is implemented and the benefits recorded.
- Payments of up to £25 can be made for employees' suggestions as an encouragement. Employees can make as many suggestions as they want.
- The suggestion must be outside the scope of the employees' normal duties, so a production employee or director could suggest a sales idea for example.
- The scheme must be formally set up but no formal approval is needed form the Revenue.
- It must be open to all employees and not part of their contractual entitlement.
How We Can Help You
We can assist you in setting up a staff suggestion scheme and providing basic scheme rules.
Got a Question?
If you have any queries on any of the above, please ask a question
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