Employee-Owner Trust Bonus

As an Employee-Owned Trust you are more than just a shareholder. You are a co-owner and you drive our successes in providing excellent patient care to our community.

An EOT bonus is a non-contractual payment to all co-owners in recognition of and to share that success.

If you are a co-owner, yes you are eligible. Co-owners are salaried employees and casual workers paid through payroll, irrespective of what Terms & Conditions you have.

As the EOT bonus has tax implications (see below) you must be a co-owner on the date the bonus is paid, if you leave before that date, you are not eligible for the bonus.

The total amount available for the EOT bonus is set aside by the Board and apportioned out to co-owners on an equal basis. The fairest way to do this is to use every co-owner’s average weekly hours.

To get your weekly average hours payroll will add up the total number of hours you have worked over the last 12 months, that is contracted plus overtime hours. The amount of bonus will include contracted hours up to the end of June and overtime hours up to the end of May.

This total is then divided by 52.14 to get your weekly average hours. The weekly average hours are capped at 37.5 hours. The total bonus set by the Board is then shared with each co-owner based on their average weekly hours.

It is not possible to give personal illustrations ahead of the payment because the NI payments can only be calculated immediately prior to the payment itself.

EOT bonuses are not taxable if they are below £3,600 but amounts above that figure are taxable. All bonus amounts are however still subject to National Insurance deductions.

There is no reduction for sickness, annual leave, maternity, paternity, parental or any other absence or leave, with the exception of sabbaticals. If you have been on a sabbatical your weekly average hours will not include the sabbatical period.

If you are new to BrisDoc and have therefore only been a co-owner for part of the past year, the amount you have worked will still be divided by 52.14, thereby applying a pro-rata adjustment to your bonus payment to reflect how long you have been a co-owner.

If your hours changed over the year this will be accounted for when your total hours worked across the year are added up.

If you have joined from another employer there will be no continuous service applied to this bonus, as you must have been a co-owner of BrisDoc for the period used to calculate your bonus payment.

As long as you were a co-owner any change in role or contract has no impact on whether you receive an EOT bonus nor the amount you receive as it is based on the hours worked in the previous 12 months.