How to calculate Annual Lave days that are paid out? Ideally after tax

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JamesFuller
JamesFuller Posts: 85 Forumite
in Employment, jobseeking & training
Hello all,

How do you calculate the pay you should get for annual leaves that the company will pay you for not claiming them?

E.g. Let's say you had 24 days left and the salary was £44,000. And the company will pay you the 24 days.

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  • PeppaCoin
    PeppaCoin Posts: 141 Forumite
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    Assuming you work 5 days a week

    44k divided by 260 = £169.23 (your day rate)

    Multiplied by 24 = £4061.52 gross.
  • burnoutbabe
    burnoutbabe Posts: 1,338 Forumite
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    yes, that is how we do it. (260 being 365 days less 104 days which are weekends - not sure now why its not 261 actually)
  • PeppaCoin
    PeppaCoin Posts: 141 Forumite
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    Well i guess because 52 x5 = 260
  • paddedjohn
    paddedjohn Posts: 7,512 Forumite
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    edited 10 November 2017 at 4:15AM
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    PeppaCoin wrote: »
    Well i guess because 52 x5 = 260

    But 52.2x 5=261.
    Be Alert..........Britain needs lerts.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
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    working days in a year changes
    There are 14 different years(7*2) they can be 260, 261, 262 working days
  • sangie595
    sangie595 Posts: 6,092 Forumite
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    getmore4less wrote: »
    working days in a year changes
    There are 14 different years(7*2) they can be 260, 261, 262 working days
    And some employers still use 365 days.
  • General_Grant
    General_Grant Posts: 4,842 Forumite
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    sangie595 wrote: »
    And some employers still use 365 days.

    As I work in a 24/7 organisation, I use the 365 day year in calculating proportional entitlement for those working part years. This is generally converted to hours because people work different shift lengths.

    For working out the value of that time, I use the hourly rate for the post multiplied by the number of hours represented by the amount of time.

    So for the OP, the calculation would be:

    24 x 7.5 (if that is their standard day length) x (44000/52/37.5)
    (that's also assuming a week of 5 of those standard days)
  • getmore4less
    getmore4less Posts: 46,882 Forumite
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    General_Grant wrote: »
    As I work in a 24/7 organisation, I use the 365 day year in calculating proportional entitlement for those working part years. This is generally converted to hours because people work different shift lengths.

    For working out the value of that time, I use the hourly rate for the post multiplied by the number of hours represented by the amount of time.

    So for the OP, the calculation would be:

    24 x 7.5 (if that is their standard day length) x (44000/52/37.5)
    (that's also assuming a week of 5 of those standard days)

    You say you use days then go onto use 52 weeks.
  • General_Grant
    General_Grant Posts: 4,842 Forumite
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    getmore4less wrote: »
    You say you use days then go onto use 52 weeks.

    When someone is not employed for a full year, the entitlement to the amount of time is based proportion of days in the year.

    The 52 weeks are used in the calculation of what the hourly rate is.
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