Page 7 - Acorn - Your Tomorrow booklet

Holiday Buy & Sell Policy
This benefit gives you extra flexibility in your working lives and helps you find that balance between work and leisure. This allows you to buy a maximum of 3 days holiday, or you can sell a maximum of 3 days holiday for the year (pro-rata for part time staff).
How it works:
There will be windows for you to buy or sell a maximum of 3 days annual leave in each year (see windows below). However, you cannot drop below the legal minimum (www.gov.uk/holiday-entitlement- rights) if you are selling annual leave in that holiday year.
Any holidays bought will be deducted from your salary in eleven equal instalments via your monthly salary. This will be actioned by Payroll and will show as a deduction on your wage slip. If a colleague leaves the business during the holiday year, the normal pro-rata rules will apply. Any holidays sold will be paid in one equal payment.
The windows open as follows:
• Buying holidays – on 1st January and closes on 15th January
• Buying holidays – on 1st June and closes on 15th June
• Selling holidays – on 15th November and closes on 30th November
Please note that these dates are subject to change as per business needs and any changes will be communicated to you. Any requests received outside of these windows will not be reviewed as part of this scheme.
To make your request, simply complete the application form on our HR system, which will be reviewed by management once the window closes.
Management will consider your request in line with business needs; they will be reviewed at the business’s discretion and there is no
right to appeal if your request is declined. You will be advised of the outcome in the following month, and any payroll deductions or payments will be processed ordinarily in the month after the window closes.
Please note that the holiday buy and sell is a non-contractual benefit, and the business reserves the right to withdraw the scheme in the future (with reasonable notice). Any payment made under the scheme does not set a precedent for future payments.
Holiday Buy & Sell Policy 7