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Information packUnderstand your wage slip

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Understand your wage slip

Understand your wage slip

Your wage slip explained

1. Tax code

Your employer uses the tax code to work out how much tax you must pay. If you have the wrong tax code, you could pay too much or too little tax.

2. Hourly rate

The pay you get per hour.

3. Weekly hours      

The number of hours you work each week.

4. Gross pay

The amount of pay you get before tax and National Insurance is taken away.

5. Tax and NI

Tax: The government collects tax to pay for public services.

NI (National Insurance): You pay National Insurance so that you can get benefits and a state pension.

 

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