How to read your payslip
What the figures on your payslip mean
Your payslip summarises your pay and deductions for the month. Understanding it helps you check it is correct.
The key figures
- Gross pay: your salary before any deductions
- Income Tax: deducted via PAYE based on your tax code
- Employee NIC: National Insurance contributions deducted at 8% on earnings between £1,048 and £4,189 per month and 2% on earnings above £4,189
- Net pay: what is transferred to your bank after all deductions
Year-to-date figures
Your payslip also shows cumulative figures from 6 April to the current pay date. These are used by the PAYE system to calculate the correct tax each month. If your salary changes or you receive a bonus, the year-to-date figures update to reflect the correct cumulative position.
💡 Good to know: Check your payslip each month. If net pay differs significantly from the previous month without a clear reason (a salary change or bonus), contact us and we will investigate.
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Phone: 020 3897 2233
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