Buying or selling annual leave policy template
Use this model policy to detail the rules and arrangements for a scheme that allows your employees to buy or sell annual leave.
- 3 pages / 809 words
- Instantly download as Word / PDF / plain text
- Suitable globally (check local legislation)
Save 1 hour drafting time, and reduce your risk.
Buying or selling annual leave policy
1 Overview
1.1 The purpose of this policy is to cover rules for any employee who wishes to buy or sell annual leave.
2 Scope
2.1 This policy is applicable to all employees of [company name].
3 General principles
[Company] operates a policy of granting all employees [six] weeks' paid holiday entitlement each year. It is recognised, however, that some employees may wish to take longer or shorter periods of holidays and for this reason we operate a policy of allowing employees to "buy" or "sell" some holiday entitlement, subject to certain conditions.
3.1 Conditions for buying or selling holiday
3.1.1 The conditions for buying or selling holiday are as follows:
-
[Company]’s holiday year runs from [January to December].
-
The maximum amount of additional annual leave that you may "buy" in any one holiday year is [one week/two weeks].
-
The maximum amount of annual leave that you may "sell" in any one holiday year is [one week/two weeks]. This is because no employee can sell holiday that results in his/her being entitled to less than the statutory minimum paid holiday each year as this would be in breach of the Working Time Regulations 1998.
-
[Company] reserves the right to refuse an application to buy or sell holiday. In respect of a request to buy holiday, it may be necessary to refuse a request for operational or technical reasons related to your job. In respect of a request to sell holiday, management may
You're currently viewing a limited preview. For instant full access, purchase this item or a parent bundle.
The Buying or Selling Annual Leave Policy provides employees with the flexibility to adjust their leave entitlements based on personal needs. It outlines the procedures for purchasing additional leave or selling back unused days to the company, ensuring a transparent and fair process.
This policy aims to enhance employee work-life balance and satisfaction while allowing the organisation to manage leave balances effectively. It promotes flexibility and offers a structured approach for employees to tailor their leave to suit their circumstances.
Direction:
Frequently Asked Questions
Frequently Asked Questions
-
Can I use this Buying or selling annual leave policy template for small businesses?
Yes. The Buying or selling annual leave policy template is designed to be flexible and suitable for organisations of all sizes, including small businesses and charities. It follows UK employment law best practice, so even if you don't have an in-house HR team, you can confidently apply it.
-
Is this Buying or selling annual leave policy template compliant with 2025 UK employment law?
Absolutely. All templates are drafted with the latest ACAS guidance and UK employment legislation in mind. We review and update them regularly, so you can be confident they remain compliant.
-
Can I customise this Buying or selling annual leave policy template for my organisation?
Yes, we highlight the areas that you need to update with your own details, and where you need to make decisions to suit your situation. This saves you time and ensures that you meet best practice.
-
Do I get instant access to the Buying or selling annual leave policy template?
Yes. Once purchased, you'll be able to download the Buying or selling annual leave policy template instantly. Templates are provided in editable Word or Excel format so you can customise them easily, and in PDF format for easy sharing.
-
What if I need a full HR toolkit, not just the Buying or selling annual leave policy template?
If you're looking for broader support, we also offer toolkits and library bundles that include the Buying or selling annual leave policy template along with other HR templates and policies for fully managing your situation. These may be more cost-effective if you need a complete HR library.
