How do I understand my payslip?

Updated on 7 October 2020

Migrants

Not sure what your payslip should look like and what information it should hold? We provide you with an example and breakdown of a typical payslip in the useful tools section.

Image of a payslip on a laptop computer

(c) Shutterstock / Rawpixel.com

More information on self-employment
Am I employed, self-employed or neither?	What tax allowances am I entitled to?
How do I register for tax and National Insurance?	What is the trading allowance?
What business records should I keep?	How do I pay tax on self-employed income?
Working out profits, losses and capital allowances	What National Insurance do I pay if I am self-employed?
How do I work out my taxable profits?	What is the Construction Industry Scheme (CIS)?
How do I prepare my accounts?	How do I work out my profits for universal credit?
What business expenses are allowable?	Do I have to pay VAT if I am self-employed?
Can I claim for pre-trade expenses?	What is Making Tax Digital for VAT?
What capital allowances can I claim?	Pensions and self-employment
What if I make a loss?	How do I repay my student loan if I am self-employed?
When do I make Self Assessment payments and file my tax return?	Penalties and enquiries

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