Nursery World - Work Matters: Finance (7)

Lynn Bryden is business and finance support officer at Sure Start Strategic Partnership Tyne & Wear (www.northtyneside.gov.uk)

There are a number of changes to generic business regulations that could affect your nursery business. These include:

Business rates

New legislation allows businesses to spread payment of this year's inflationary increase to business rates over three years. Currently business rates are adjusted every April in line with the Retail Prices Index for the previous September. Last September saw a spike in inflation of 5 per cent, which would have had an immediate impact on cash flow without the new measures.

Minimum paid leave entitlement

The statutory minimum paid leave entitlement has risen from 4.8 weeks to 5.6 weeks. For those working a five-day week this represents an increase from 24 to 28 days. Leave must be calculated proportionally depending on when the nursery leave year starts. Partial days may be rounded up, but not rounded down.

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