Self-employed workers bank holiday pay explained

Being self-employed has its advantages. You have no one but the bank manager to answer to and the more you work, the more you earn. The problem for self-employed workers is that there’s no sick pay and self employed bank holiday pay doesn’t exist.

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Statutory rights

Workers have to be given 5.6 weeks a year paid leave as a minimum. If you work 5 days a week, that works out at 28 days a year. Most employers count the annual bank holidays in this allocation, so workers can expect a minimum of 20 days annual leave and 8 bank holidays. If you’re self-employed, these regulations don’t count.

Contracted employee

Most self-employed workers aren’t entitled to any employment benefits from their clients, but that can change is the client puts the worker onto their payroll. If that’s the case, some statutory employment rights come into play. You will need to be working under a “Contract of employment” to qualify for bank holiday pay. If you are, you can also expect an itemised payslip, maternity or paternity leave, redundancy pay and notice if you’re dismissed.

Bank holidays

If you think of bank holidays from an employer’s point of view, they are days when employees are paid for not working. Workers aren’t generating any income for the business, but their wages have to be paid. With self-employed people, there might not be any payment on those days, but you won’t be working so bank holidays are just like the weekend days.

Final word

If you’re self-employed, you probably work more hours than you would in the same job for an employer, so perhaps you’re used to putting in the hours. If you deal with firms abroad, you can still make money on bank holidays and that’s also the case if you work with businesses in Scotland and Northern Ireland who have different bank holidays to businesses in England. Business never sleeps, so there’s no reason why you can’t make money on a bank holiday.

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