A payslip is a note that your employer gives you when you’ve been paid.
You only get one if you’re an employee – if you’re self-employed or a contractor you get paid through an invoice, CIS statement, etc.
What you can see on your payslip:
- your salary, bonus, and overtime
- how much Income Tax and National Insurance your employer deducted and sent to HMRC
- student loan repayments
- pension contributions
- other things like Save As You Earn contributions, payroll giving donations, etc.
- your net pay (what you’re left with)
- and also your tax code and NI number.
You’ll need a payslip:
- when you’re asked for a proof of income, for example when buying a house or renting a new place
- or when you’re filing a Self Assessment tax return.