Appreciate Group is backing a campaign calling on the Government to increase the tax-free Trivial Benefits Allowance, which could help deliver a huge £2bn boost to Britain’s high street and help safeguard thousands of jobs.
The #GiftCard500 campaign has been buoyed by the success of the ‘Eat Out to Help Out’ scheme which ran throughout August and shows the economic opportunities from government-led incentives and assistance.
The ‘Eat Out to Help Out’ initiative saw more than 64 million discounted meals claimed in its first three weeks, helping to support 1.8 million jobs in the hospitality sector.
Spearheaded by the Gift Card and Voucher Association (GCVA), #GiftCard500 calls on the Government to increase the tax-free Trivial Benefits Allowance available to employers to reward their staff from £50 to £500.
Ian O’Doherty, Chief Executive, at Appreciate Group said: “The Eat Out to Help Out scheme shows the positive impact that Government incentives can have on helping industries bounce back after what has been an incredibly challenging time.
“We believe there’s an opportunity to now go further. We’ve seen increased demand since lockdown began from employers wanting to thank their staff through gift cards using the £50 tax allowance. That’s why we’re backing the #GiftCard500 campaign as a way to help stimulate the retail and hospitality industries.”
Gift cards such as Appreciate Group’s multi-retailer Love2shop Gift Card are completely tax-free for businesses up to the value of £50, through the Government’s gifting allowance.
Appreciate Group, along with the GCVA and other retail and hospitality giants, are backing the campaign for change which will, in turn, encourage employers across the nation to use the increased tax-free allowance to use gift-cards to thank staff and clients for their hard work and commitment during the pandemic.