Long service awards are a great way to reward employees for sticking with you for 20 years or more. One employee that you may forget about is yourself! So, if you’ve been on the payroll to for 20 years or more, you can have the same tax free amount.
An employer can award employees £50 per year of service, as long as the following apply:
- The employee (including yourself) has worked for the company for at least 20 years
- The award is less than £50 per year
- There haven’t been any long service awards in the last 10 years.
So essentially for 20 years’ service you can receive £1,000 tax-free. The award can’t be cash or something that you can exchange for cash, but shopping vouchers or goods are perfectly fine, so go ahead and treat yourself.