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Understanding your payslip

You should be issued with a payslip every time you are paid. This should be in a sealed envelope or through a password protected email.

Your payslip must show:

  • Gross Pay (this is the amount of pay before any deductions for National Insurance or tax and will include any overtime or pool money payments)
  • Any deductions (National Insurance, tax, rent, RIABS etc)
  • Net pay (this is your take home pay after deductions)

Your payslip may also show:

  • National Insurance number
  • Tax code

Here is an example of a standard payslip. It shows the company name, employee name and the date issued (date paid).

On the left is your income before any deductions. This will show your basic pay and also any overtime due, racing expenses, pool money etc. The middle box shows your deductions for tax and National Insurance. This may also show deductions for rent or anything else agreed to be deducted. For example,  you may have bought a new pair of boots from the saddlers on your employers account, and agreed to have £x per week deducted. The right hand box shows your yearly totals (April – April) for the amount of tax and National Insurance you have paid and also your net pay (take home pay).

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