Opening your payslip can come with a real mixed bag of emotions. All too often, it can go a little something like this:
“Yes! I’ve been paid! Wait a minute, that’s not the amount I was expecting… they’ve taken how much for tax? And what’s that for? Surely that can’t be right… and what does that code mean?”
That little slip of paper (or PDF, it’s 2019 after all) can be really confusing. But generally, as long as they’ve got your hours right, you’ll file it away and forget about it, because you’re sure the boss has got you covered. True?
Whilst we’re pretty sure your employer’s finance department know what they’re doing, it can’t hurt for you to be able to interpret those tiny hieroglyphics inscribed on your payslip, or for you to be 100% sure that you’re being paid the right amount. So, in an effort to help you understand this confusing yet vital piece of paper, we have created this go-to guide. We hope it helps you feel a whole lot more confident next payday.