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

JamesFuller

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.

PeppaCoin

Assuming you work 5 days a week

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

Multiplied by 24 = £4061.52 gross.

burnoutbabe

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

Well i guess because 52 x5 = 260

paddedjohn

PeppaCoin wrote: »

Well i guess because 52 x5 = 260

But 52.2x 5=261.

getmore4less

working days in a year changes
There are 14 different years(7*2) they can be 260, 261, 262 working days

sangie595

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

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

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

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.