What is a payslip?

Payslips in the UK: What you need to know A payslip is a document that shows your earnings and deductions for a pay period. It is a legal requirement for all employers in the UK to provide their employees with payslips.

What should be on a UK payslip? A UK payslip must include the following information:

• Your name and contact details

• Your employer's name and address

• Your employment start date

• Your pay period

• Your gross pay (before deductions)

• The amount of any deductions, such as tax, National Insurance, student loan repayments, and pension contributions

• Your net pay (after deductions)

• Your hours worked, if your pay varies depending on time worked

• Your National Insurance number

• Your tax code

How does a UK payslip work? Your gross pay is the total amount of money you earn before any deductions are made. The amount of tax and National Insurance you pay depends on your earnings and your tax code. Student loan repayments and pension contributions are also deducted from your gross pay. Your net pay is the amount of money you take home after all deductions have been made. You should check your payslip carefully to make sure that the deductions are correct. If you have any questions, you should speak to your employer.

What if I don't receive a payslip? If you don't receive a payslip, you should contact your employer immediately. You are entitled to a payslip for each pay period, and your employer is breaking the law if they don't provide you with one.

How to store your payslips It is important to keep your payslips safe for future reference. You may need them to prove your earnings, tax paid, and any pension contributions. Most payslips are now sent via email or an online portal. You can download them and save them to a cloud provider such as Google Drive or Microsoft OneDrive for safe keeping.

Conclusion Payslips are an important document that all employees in the UK should be familiar with. They provide a record of your earnings and deductions, and they can be used to prove your income for a variety of purposes. If you have any questions about your payslip, you should speak to your employer.