Yes, sorry meant to come back and post an update:sorry:!
Spoke with Lawcall yesterday and their lady said she'd been inundated with calls about this. They have referred the formula back to the person who drafted it, explaining it doesn't work and asking for some definitive decision on what we do now. She said the legal advisers at Lawcall have made an interim decision that holidays should be worked on the same basis as we do for the 4 weeks ruling, ie total for year is normal weeks pay x 4.8 (instead of 4).
She said there should be something official issued at a later date to confirm this or otherwise, but thats what we should do for now. As we don't pay our first holiday of the year until the Christmas break, hopefully they will have made their minds up by then
I'm only relating what I was told, so if anyone else is in this position, I'd recommend a call to Lawcall to double-check the situation and verify I've got it right, as I'd hate to mislead anyone!
In reply to Sparky - Holiday allowance forms part of terms and conditions of employment and its difficult to reduce the conditions of a job whilst someone is holding that post. If the post becomes vacant, the terms can be revised before a new person is appointed, so basically no, you cannot take holiday away, so I guess you cannot take holiday pay away either