Buying holiday from employers

[FUFTUB]

I just wondered if any of you work for a company that will 'sell' you additional holiday / leave?

I have 4 days holiday left this year after using a lot of it earlier on. I have a feeling I'm going to need more towards the end of the year and my boss mentioned that he might look in to selling me additional leave.

If you have this option, how does it work where you are?

Cheers

 

[Scrutinize]

It usually works out better (assuming they let you) if you take unpaid leave should you need it over buying leave which you may not end up using. You should be able to come to an arangement over this.

Effectively it is the same thing as buying leave but depending on company policies and since you don't cough up the ££ for it would be my prefered option.

 

[WillyNelson]

I get the option to buy/sell holiday once a year and any bought has to be paid for out my bonus. I've never taken them up on it though.

 

[HangTime]

My old employer let you buy/sell up to 2 days per year.
I never did it though as despite valuing my free time at more than my salary, I couldn't be bothered with the hassle of setting it up.

 

[Bhoya]

Where I work we get the option of buying or selling 3 days holiday each year then it's added/taken from your pay split over the next 12 months.

 

[Psycrow]

Yeah I can buy up to 5 days a year, will probably use it all this year. I love time off.

 

[RDM]

I have the ability to buy/sell up to 5 days (pro rata). We get the option twice a year and the money is deducted from your salary monthly. (So if you do it at the beginning of the year the cost is spread over 12 months, if you do it mid year the cost is spread across 6 months). It effectively works out the same as taking unpaid leave but is a lot less hassle to organise and you can spread the costs over several months.

However if you sell extra days it becomes taxable income.

I have bought an additional 5 days making my total for this year 33 days. (Again pro-rata in my case).

 

[Cosimo]

We have an option to buy an extra five days a year, always used it.

 

[Ukadder]

We have the option to buy an extra 5 days a year as well, for us it works out by taking the money out of our pay every month to the amount equal to the 5 days pay and then splitting it over the 12 months of pay. We also have the option to sell any left over holiday back to the company at the end of the year (as long as you've taken the minimum required by law)

I always take it as you never know if you'll need it or not!

 

[Rotty]

we have the option to buy or sell up to 5 a year but you have to make this decision at beginning of year

your pay is adjusted accordingly, 1 days pay for 1 days holiday

 

[bledd]

flexi time for the win

 

[Skiddley]

I can buy an extra 5, or sell 5 (min 20, max 30). You have to decide at the beginning of the year. The pay deficit\gain is paid monthy.

So if I made gross 500 quid a day, and sold 5 days (2,500) I'd receive an extra 208 quid a month gross.

 

[HangTime]

We also have the option to sell any left over holiday back to the company at the end of the year (as long as you've taken the minimum required by law)

That's pretty cool, minimum number of holidays is 12 I believe (plus 8 bhs). So for somone with say 25 days annual leave you could get 13 days pay (well over half a month), a nice little earner.

 

[Butters]

My employer does this. Quite a good system. You can buy as much as you like and if you dont use it, they refund it.

Also, they let you carry holidays over. You must take a min of 2 weeks a year but can carry the other 3 over to the next year for a 8 week break if you like

 

[georges]

5 weeks of holiday? What do you do?

 

[KaHn]

I am fortunate to get a lot of days in lieu for overseas work, I get something like 0.5day in lieu for every day I work over seas + paid more for doing it

Roll on the 8 weeks of offshore work I have coming up

KaHn

 

[Butters]

5 weeks of holiday? What do you do?

IT Consultant