Understanding holiday pay, and how to calculate it is vital for any business that has workers.
Are you a business, private or not for profit? If so, then this video is for you.
- Firstly, I’m going to explain how holiday pay works in the UK
- Secondly, how you calculate holiday pay
- Thirdly, your main responsibilities are as an employer.
Click here if you want to grab a holiday pay calculator
Furthermore, once you’ve watched this video, you’ll understand exactly who’s entitled to paid holiday leave.
Above all what it means for your business.
Who is entitled to holiday pay?
Well pretty much all workers in the United Kingdom are entitled to some form of paid leave. That doesn’t matter whether they are part-time or full-time, casual worker or somebody on a zero hours contract. The only exception is company directors as their entitlement will depend on their employment status within the company itself rather than any legal requirement from HMRC (Her Majesty’s Revenue & Customs).
Watch to find out more
Conclusion
Understanding holiday pay is vital for any employer. Paying holiday pay is a legal obligation, ignore it and it you have problems. This can be overwhelming, but it doesn’t have to be that way! In this vlog I’ve broken this down and made it accessible. If you like the idea of us running your payroll and taking the strain then we’d love to hear from you.
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Above all you can improve your financial understanding and well-being. Plus make more profit, save tax and time, and your money mindset. How wonderful is that?
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Contact us if you need help figuring out and sorting your financial and cash flow planning, your tax , payroll and other accounting and business matters. For more business and finance , news, advice and tips, don’t forget to subscribe and watch our weekly videos on I Hate Numbers, listen to our weekly podcast I Hate Numbers.