How do I understand my payslip?

Updated on 30 December 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

Print this page

Share this page