Tax services

Employee incentive schemes

Talent deserves to be rewarded

You want to recruit and retain the most talented people in your field, and keep them motivated to do their best work. There are a number of options for financial and non-financial incentive schemes that you could implement, and we can help you to make the right decision for you, your business and your team.

A little recognition goes a long way

Whether you decide to introduce an incentive scheme for a one-off project, such as a rebrand or new product launch, or you simply want to raise overall productivity, improve teamwork or increase employee engagement, then non-financial incentives could be a good option.

You might choose to offer additional holidays, a company car or gifts such as access to a corporate box at sporting events, etc.

Many non-financial incentives that have an equivalent cash value are liable to tax and National Insurance, but we will help you to make the most tax-efficient choice, ensuring the new scheme is beneficial to both your business and your staff.

Share a piece of the pie

If you’d like to offer financial incentives and rewards to key employees, you might want to consider offering employee share options, bonuses or commission. You can offer free shares up to £3,600 per tax year, including a maximum of £1,800 of partnership shares (or 10% of overall salary, whichever is less), and a limit of two matching shares for each partnership share purchased by the employee.

Tax advantages are available on certain share schemes:

The rules vary, as do the potential savings, but your employees could save income tax and National Insurance, and even Capital Gains Tax when they eventually dispose of the shares.

There are many financial and operational benefits to offering shares and options to top staff, including reducing the need for finance. We can help you to choose and implement an employee incentive scheme that will help you to attract talented employees and motivate and reward your staff.

Get a helping hand for your business.