Holiday Buy and Sell

Lifestyle

We know that everyone is different when it comes to holidays.

Some people prefer more time-off work than their standard entitlement allows, while others might not know what to do with it all. That’s why we give you the flexibility to buy or sell up to five days of annual leave (pro rata if part time).

Buying leave
Not enough holiday days? School holidays draining your holiday allowance? No problem! If you’d like to ‘buy’ extra leave, you need to be earning above the lower earnings limit and national minimum wage after deductions. The cost of the annual leave you choose to buy is deducted through salary sacrifice from your monthly pay, over 11 months, from May.

Too much time on your hands? No worries!
You can ‘sell’ holiday you don’t need, as long as you have 28 days left to take yourself afterwards. Payments for selling leave are made in *11 instalments to your pay from May (*a lump sum option is not available).

You’re not committed forever. When you request to buy or sell your leave it only applies for a period of one year, so you can use the benefit for a ‘one-off’, like going on the holiday of a lifetime or spending time with your children before they start school.

Am I eligible?
If you’re on a permanent contract, you may be eligible. You can apply to buy (through salary sacrifice) or sell your leave between February and the end of March each year so it takes effect from the start of the annual leave year in May.

When you buy extra leave, you agree to a reduction in your gross pay, but you’ll also pay less tax and NI. If you decide to sell some of your allowance you’ll be paid more in your salary and tax/NI will increase.

If your annual leave entitlement is 28 days and includes bank holidays, you won’t be able to sell any leave as we’re legally required to give you this much leave as a minimum.

How do I apply?

When the window opens in February, read the guidance to find out if you’re eligible. If you are, complete the application form and pass it on to your line manager.
You and your manager can electronically sign the form, before the manager sends it to reward@anchorhanover.org.uk

If your request is approved, the leave you buy or sell will apply from May and deductions or payments will start in May.