- Original Poster
- #1
Hi I'm trying to predict the holiday pay I would have to account for for a new business I'm planning and would appreciate some help sense-checking my result.
By my calculations, if someone works for me for 2.5 days each week, they are entitled to 14 days (2.5 x 5.6) holiday in that year. Therefore in that year I effectively pay them for a total of 130 days (2.5 x 52 weeks) but they only need to turn up for 116 of them (130 total minus their 14 days' holiday).
So therefore if (as is the case) I am calculating how much I will need to pay in wages that year by working out the total number of days I will need people to work and then multiplying that by their daily wage, I should in fact increase the amount I would need to pay out by 12% to factor in the expense of holiday pay above and beyond salary paid out for actual days worked.
Does that make sense? and am I thinking along the right lines?
Any help would be much appreciated thanks.
By my calculations, if someone works for me for 2.5 days each week, they are entitled to 14 days (2.5 x 5.6) holiday in that year. Therefore in that year I effectively pay them for a total of 130 days (2.5 x 52 weeks) but they only need to turn up for 116 of them (130 total minus their 14 days' holiday).
So therefore if (as is the case) I am calculating how much I will need to pay in wages that year by working out the total number of days I will need people to work and then multiplying that by their daily wage, I should in fact increase the amount I would need to pay out by 12% to factor in the expense of holiday pay above and beyond salary paid out for actual days worked.
Does that make sense? and am I thinking along the right lines?
Any help would be much appreciated thanks.
