ANALYSIS OF PAYSLIP

Analysis of Payslip

Analysis of Payslip

Tax paid

The list shows the employees pay is £ 1,250.00 basic, this is your monthly salary that the employer must pay him. The figure of £ 15,000.00 known as Basic Salary is your annual income your employer (£ 1,250.00 x 12).

period of the payroll tax is 07, which is for the month of October. This shows that they are indeed more than half in the fiscal year. Therefore, we expect half of the personal allowances to be used on a cumulative basis.

Taxable income for the month the employer shall deduct the adjustments to be made. For example, if the employer does not go to work for a day, wages shall be deducted and the figure of £ 99.32 Sal Adj shows this. His hourly rate is £ 9, shows that there has been at work for 11 hours 140.

National Insurance contributions

National Insurance paid to build entitlement to certain state benefits, including the state pension. You pay National Insurance if you are an employee or self and is over 16 years, provided your earnings are more than a certain level.

If you are an employee fails to pay National Insurance as soon as you reach the State Pension age. State retirement age is 65 for men born before 6 April 1959 and 60 for women born before 6 April 1950. But gradually increase to 65 for women between 2010 and 2020.

If you work on your own, you fail to pay Class 2 contributions as soon as you reach the State Pension age and class 4 contributions since the beginning of the fiscal year following that in which you reach age State retirement.

Some people also pay voluntary National Insurance. For example, you may choose to pay if: no work and are not claiming state benefits, have not paid enough National Insurance in a year of state pension or other long-term benefits or living state abroad and want to maintain their state of entitlement to benefits.

The contributions you pay depends on how much you earn and if you are employed or self. If you are employed you pay Class 1 National Insurance. The rates are as follows:

• If you earn more than £ 110 per week and up to £ 844 per week, you pay 11 percent of the amount you earn between £ 110 and £ 844

• If you earn more than £ 844 a week, also pay an extra 1 percent of total income of £ 844

You pay a lower rate if you are a member of the pension from your employer hires. Your contributions are deducted from your salary by your employer

If you are self-employed you pay Class 2 and Class 4 National Insurance. The rates are as follows:

• Class 2 National Insurance contributions are paid at a flat rate of £ 2.40 a week

• Class 4 National Insurance contributions are paid as a percentage of their annual taxable ...