31 August deadline approaching - please act now
As a reminder, due to a change in accounting legislation HTA is now enforcing voucher expiry dates.
To help your till staff check voucher expiry dates we have provided a poster/leaflet for you to print out and use in staff training/briefing.
Amnesty - please act now
Since we were given notice of this change in legislation we have been working closely with appropriate bodies to try and mitigate the effects of this change on members. To ensure that enough time has been allowed to train staff in this matter, we are pleased to confirm that an amnesty on vouchers with an expiry date of 31 December 2016 has been agreed until 31 August 2017. This means that we will accept these expired vouchers until this date. This is to give you time to ensure staff are trained on this issue, and that you have systems in place to ensure expired vouchers are not accepted at your business after this date.
It is vital that we advise you that after the 31 August 2017 expired vouchers from 2016 cannot be redeemed. Once this amnesty passes, a period of 30 days will be granted to allow retailers to accept vouchers on the date of expiry and return them to HTA for redemption. Unfortunately we are duty-bound to adhere strictly to this new accounting standard. The impact on HTA's financials were we not to enforce expiry dates is significant and not sustainable.
We appreciate that this is a change in procedure. Until now we have helped all members redeem vouchers no matter how old. But due to this change in circumstances this situation must now change.
To mitigate risk to your business, we advise that you ensure that rotation of your gift voucher stock is managed with expiry dates in mind, and that you begin to train your staff around this issue. If you have any queries on this matter please contact the HTA services team on 0333 003 3550 or email firstname.lastname@example.org
On a final (more positive) note, please do remember that the majority of customers spend vouchers in the first three to six months of receiving them. Also, the period of up to four years for a customer to spend the voucher before it expires remains quite generous compared with many other gift voucher schemes. Our gifting scheme remains highly competitive and attractive to shoppers, and we look forward to working with you on it in future.