Understanding a payslip

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Understanding a payslip by Mind Map: Understanding a payslip

1. Payslips: background

1.1. Contents and purpose

1.2. Statutory requirements

1.3. Pensions auto-enrolment

1.4. Tax relief for pension contributions

1.5. Gross pay

1.6. Additions to gross pay

1.7. Deductions from gross pay

2. Items on which neither tax nor NICs are due

2.1. Employer pension contributions

2.2. Salary sacrifice for pension contributions

3. Items on which NICs but not tax are calculated

3.1. Pension contributions

3.2. Payroll giving

3.3. Personal pecuniary liabilities

3.4. Loans written off

3.5. Vouchers

4. Items on which tax but not employee's NICs are calculated

4.1. Termination payments

4.2. Payrolled benefits in kind

5. Items deducted from net pay

5.1. Student loans

5.2. Other loan repayments

5.3. Employee pension contributions (relief at source)

5.4. Court orders

5.5. Payments for purchases from the employer

6. Checking a payslip

6.1. The calculation

6.2. Signs of non-compliant schemes

7. Other matters

7.1. Replacement payslips