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An example of a non-cash voucher is a gift for a shop that cannot be turned to cash (for example by returning the goods for a refund).

Benefits programs vary greatly, but typically they include medical insurance, life and disability insurance, retirement income plan benefits, paid-time-off benefits, and educational assistance programs. Benefits selection and design are critical components in the total compensation costs.

Manufacturers and stores benefit from the coupons they offer to consumers. Loyalty cards are a form of coupon that allows stores to keep a record of scanned purchases. Offering coupons is a way to market products and engage consumers. Coupons can entice customers to build loyalty with a specific company or product.

Vouchers exchangeable for cash are another way of providing cash to an employee and therefore the full value is subject to tax and national insurance through the payroll, as with any other earnings.

What is an employee discount scheme? An employee benefits scheme helps employers, like you, save your staff money. These packages offer shopping vouchers for online and high-street retailers and help your team spend less on meals out, holidays, and the weekly food shop.

The benefits of using a voucher include flexibility, convenience, and a combination of marketing, cost reduction, and a payment medium in one item.

An employee benefit is any benefit provided or paid by the employer for the benefit of the employee or the employee's family. Benefits are generally included in the employee's wage for tax purposes, except those benefits that qualify for exclusion.

Gift Vouchers You can declare the vouchers on each employee's form P11D so that they pay the relevant tax and National Insurance or you can set up a 'PAYE Settlement Agreement' with HMRC which will arrange for the tax and National Insurance bill to be sent to the employer.