25 year service award

cazbarfeatures

Hi,

Ok, so I have been working for my company for 25 years in June this year and I am entitled to a £250 award.

The company tells me that I have to buy something to that value, then give them the receipt and they will reimburse me.

I had hoped to get a gift card but apparently that is looked at as a cash gift and tax/nics will be applicable hence why they
company won't just give me the cash in my wages.

I need some suggestions because I don't really have anything in mind to buy for that value and I would rather put it towards bills/food/petrol
to be honest.

what do you think?

thanks

FireWyrm

Wow, they're generous. £250 for 25 years service, or a whole £10 per year...hope they didnt break the bank on that one.

From a legal point of view, it is indeed a cash gift so technically, you have to declare it. In reality, I doubt you'll get turned over by HMRC on it. I dont see why they cant just give you an Amazon gift card and be done with it.

I'd have a chat with them....£250 seems a touch miserly frankly, one wonders what would happen if you indicated your displeasure.

Tixy

Not suggestions as to what you could buy - but possible solutions to the problem if you really need the money for essentials

Could you buy something, show them the receipt and then return said item to the store for a refund. Thus giving you the money to do what you want. Tell them you need to keep the orignal receipt for the guarantee and they can only have a copy.

Or buy something online and then return it.

Or find out if anyone in the family / close friends has any plans to buy anything that would be suitable to use the receipt for?

Where I work they recommend items such as watches, jewellery, tv and audio goods but "the choice is left entirely to the individual" - so could you do a really big supermarket shop, lots of non perishables - and hand over that receipt???

cazbarfeatures

I hear what you are saying about being miserly and I 100% agree.

I did email HR and say that it's been £250 for the last 20 years isn't it about time this was brought up with inflation but I didn't get a response.

I did think about buying something and then returning it but I was concerned about keeping the receipt issue.

I wonder if they would accept petrol/food receipts hmmmm.

Thanks for your replies.

geeka

why don't you see if anyone you know needs something for £250, you get it then they give you £250. cash in your hand!

MrsAnnie

cazbarfeatures wrote: »

I did think about buying something and then returning it but I was concerned about keeping the receipt issue.

You just need to ask for a gift receipt along with the regular receipt. Give your company the normal receipt and return the item with the gift receipt.

You could always buy something at say M&S and return the item for food and drinks.

antonic

In HMRC you get £75 for 30 years service when you retire.

You can put your own money towards to it as well

R_P_W

Never understood why people get so bothered about these 'awards'. I assume the company has been paying you a salary for the twenty years you have worked there?

How much would be 'enough'?

DreamerV

I'd be happier with £250 than nothing, but £250 in some ways could feel like a slap in the face. A bit like when a waiter has been VERY rude, and instead of leaving nothing, to show my displeasure, I left coppers/pennies. I'd perhaps be happier that they would make a £250 donation to a charity of my choice in my name.

OP, would they allow YOU to buy gift vouchers/cards? E.g. 25 lots of £10 Amazon vouchers? Then you could use these at gifts for others as and when you see fit (I think they last around 2 years). You could provide a receipt to the company (I think it would be sent online).

DreamerV

Or could you order something to the £250 value online, then return under distance selling regulations? I would worry (slightly) if you bought something in the shop, that something of such value may not be easily returnable if not faulty (I wouldn't want to rely on the goodwill).

barbarawright

We get £500, which is nice, but it has to be spent on a single item, bought in the borough I work in (you have to produce a receipt). To keep the money local I suppose. No fancy meals or helicopter rides or hotel bills or anything like that it. You can give all of it to charity but you can't split it. There have been similar restrictions at other places I've worked so I assume they are fairly standard rules. Since you probably can't spend it in Waitrose why not buy something completely frivolous like a painting? Or less frivolous like a new coat or a tablet computer?