A Comprehensive Guide To Corporate Gift Giving
Many companies recognise how significant small gestures of goodwill are to both staff and customers when it comes to giving gifts. It can make a big difference in establishing and maintaining a positive working or business relationship. Internal rewards are a strong way to improve productivity within your team and external gifts are a great tool for retaining customers and clients.
However, choosing the right gift isn’t as simple as just agreeing to a budget and deciding on the gift. In fact, giving gifts to your staff or clients can be surprisingly difficult. It is important that you take a few things into account when you are providing gifts to both staff and clients to prevent being caught out by taxes, misunderstanding or the Bribery Act 2010!
It is vital when engaging in corporate gift-giving that you are aware of the 2010 Bribery Act and that you remain fully compliant. This includes being aware of your companies corporate gift-giving policy, the budget of the gift, the timing of the gift and keeping a record of all gifts given.
Not only is there the issue of potential bribery to be concerned about when sending corporate gifts, but there are also some important tax rules that can affect both your business and your staff. In partnership with Hazlewoods LLP, Hamper.com have created this handy guide to all of the main points around the tax rules for corporate gift giving to help you avoid creating an unwanted additional tax for your employees.
The UK corporate gifting market is worth an estimated £78.3 million and can have a huge impact on your business strategy. With that in mind, Hamper.com have created this comprehensive guide to corporate gift-giving with all of the do's and don’ts to corporate gift-giving as well as some handy tips and tricks you will need to make the most out of giving gifts and goodwill to your staff and customers this holiday season.