How do I request my holiday pay?

 

Go to Payroll Menu

  • Select Holiday Requests from the menu:

  • Enter the Start date and End date you wish to take off and press Calculate
  • Confirm the total days requested is correct. N.B. you can overtype this and put in half days, e.g. 1.5 days
  • Once submitted it will be sent to our payroll team with a copy to yourself.

What is my holiday entitlement?

  • Holiday entitlement is calculated from your start date and 1 year ahead.
  • N.B. Any holidays not taken on the anniversary of your start date will be lost. 
  • After the first year is completed your accrued holidays will start over from 0.
  • Holiday accrual is updated weekly so be sure to look at the most recent payslip.
  • See Holiday Pay Holiday Pay Calculation below.


 Where do I find how much holiday pay I have accrued?

  • Look on your latest payslip at the bottom under HOLIDAYS REMAINING.

  • This will show you both the number of days and the approximate value accrued along with your Holiday Anniversary date by which it must be used.


 Do I include Holidays taken on my timesheet?

  • No.  Any day that was taken as a holiday needs to be left blank on your timesheet. Your Holiday pay will be processed separately as long as it has been requested.


 Can I request holiday and work at the same time?

  • No.  This is because of the Working Time Directive. This is a law where employees must take the requested holiday off work.


 Do I get paid for bank holidays?

  • Yes.  If you have enough holiday entitlement accrued you will get paid for any bank holidays that are requested.  
  • You DO NOT need to put in any hours in your timesheet for a bank holiday unless you actually worked on the bank holiday.

How is my holiday pay calculated?

  • Your holiday entitlement is calculated from your start date and 1 year ahead.
  • After the first year is completed your accrued holidays will start over from 0.
  • Any holidays not taken on the anniversary of your start date will be lost.
  • The standard holiday entitlement is 4 weeks (28 days) per year. This can include public and bank holidays.

 

Holiday days / Working Weeks = Rate of Accrual

Example:

  • 28 days holiday (statutory minimum) equates to 5.6 weeks holiday (28 days / 5 days per week)
  • 52 weeks a year - 5.6 = 46.4 working weeks
  • To calculate the rate of accrual per week you divide the Days entitled by the working weeks
  • 28 / 46.40 = 0.603 days per week


Holiday Pay Rate 

  • The rate at which the Holidays are paid at will be determined on the previous 52 weeks of earnings, an average is calculated for a days pay. 
    • Total earnings in last 52 weeks = £23,000
    •  £23,000 / 52 weeks = £442.30
    • 1 week = £442.30 / 5 = £88.46

Please be aware if you request your holiday for a later date your average earnings may decrease or increase depending the work carried out between the date of request and date of the actual holiday paid. 
This is because  holiday pay is calculated on your last 12 weeks average earnings.


Important: if you wish to opt out of the automatic bank holiday payments please contact payroll@kingstalentbank.com