Holiday Pay claims could cripple small firms

Posted By: James

Monday 14th July 2014

An ECJ ruling giving British workers the right to claim for holiday pay and overtime they are owed running back to 1998 could drive many SMEs out of business, according to research from EFF. The manufacturers' organisation estimates that an SME in the manufacturing sector with a £30m annual revenue can expect to face a £2.5m bill, with NI and pension contributions adding on a potential £250,000. Neil Carberry at the CBI, said: “We are totally convinced the costs will reach billions and in one sector alone they have estimated £750m.”

 

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