Holiday Pay

[Guest JPH]

We are fortunate to use a payroll service, and have had the following confirmation re- hoilday pay, which is increasing over the next 2 years:

 

From October, holiday entitlement will rise to 4.4 weeks (24 days). The following April this will rise to 5.2 weeks and in October 2008 it will rise again to 5.6 weeks (28 days) pro rata.

 

To work out holiday pay (based on current entitlement of 4 weeks):

(number of hours worked per week x hourly rate) x 4 = total holiday due in a year.

If staff member works odd hours, take an average for the year or the last 9 weeks whichever is more practical.

 

If staff leaves part way through the year:

(annual entitlement divided by number of weeks employed x numbr of weeks worked in that holiday year, minus any holiday already paid).

 

Hope this is of use.

[Guest]

Have just worked out for most of my staff part time it will cost me an extra £62 per year for holiday money!!!!! Boy don't the Government think that £8.25 grant money can stretch along way!!!!!!!!

[Guest]

Just worked out over th e year probably another £1000 per year on my wages bill!!!!

[Inge]

Also dont forget minumum wage goes up too in October , From 1 October 2007 the National Minimum Wage will increase again as follows. Adult rate (workers aged 22 and over) will increase to £5.52.

 

Development rate for 18-21 year olds will increase to £4.60.

 

while we hope that staff can earn more than that , in practice it may still affect the wage we pay.

 

Inge

[Deb]

Thanks for sharing this information, very useful.

 

I am confused about how bank holidays work but don't want to hijack this post so have started another one.