This guide explains your tax and National Insurance contributions (NICs) obligations if you make an award to an employee under the terms of a suggestion scheme that you operate.
Awards that meet the exemption conditions described below – and that are within specified limits – don’t need to be reported to HM Revenue & Customs (HMRC) and you have no tax or NICs to pay on them.
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If your award to an employee meets the conditions listed below, then - up to a certain limit - you’ll be able to provide it without having to report it or pay any tax or NICs on it.
For an award to qualify for this exemption:
The rest of this guide explains the exemption limits that apply for different types of award and your resulting tax, NICs and reporting obligations. It also outlines reporting requirements where one or more of the exemption conditions aren’t met.
An encouragement award is an award made to an employee for a suggestion that has merit or that shows special effort on the employee’s part.
Encouragement awards are exempt from tax and NICs up to a limit of £25.
If you make an encouragement award of up to £25, then you have:
If you make an award of more than £25 then the amount above £25 counts as earnings, so:
The value to use is the amount above £25.
A financial benefit award is an award made to an employee for a suggestion that meets the following three conditions:
Financial benefit awards are exempt from tax and NICs up to the greater of the following, subject to an overall limit of £5,000:
If you make a financial benefit award up to the maximum exemption explained above, then you have:
If you make an award that exceeds the maximum exemption, then the excess amount counts as earnings, so:
The value to use is the amount above the maximum permitted exemption for the suggestion you’re rewarding.
EIM06600: Suggestion scheme awards