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PA Enterprise
Expenses – If you’re owed any expenses (e.g. asked payslip questions, to help you figure out
travel costs or company lunches), these will be what those words and figures really mean:
displayed here.
What’s a tax code? This code tells your
Pensions – If you’re paying towards a employer what rate you should be taxed at. To
workplace pension that your company has set find out how much income you can earn in a
up or arranged access to, the amount you’re year before you need to pay tax, simply add a
contributing will be shown. zero to the number shown. For example, Tax
Student loan – If you’re making student loan code 1000L means you can earn £10,000 a
repayments, this will be shown on your payslip. year before paying any Income Tax. The most
common letter is L, which just means your tax
Workplace benefits – If you get health insurance rate is at the standard rate.
or have a company car through an employment
scheme, these will be listed on your wage slip. What is total gross pay? Your gross pay is
what you’ve earned before any deductions
Your payslip explained have been taken off.
Does your payslip contain lots of confusing lingo? What is total net pay? Your net pay is what you
actually receive into your bank account once all
Fear not – here’s some answers to commonly
the deductions have been taken off.
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