Understanding Your Payslip

P60, P45, P11D... the UK tax system loves forms. Here is a simple guide to what they all mean and why they matter.

Key Tax Documents

P60 (End of Year Certificate)

Your employer must give you a P60 at the end of every tax year (which ends on 5 April). It shows your total pay and how much tax you've paid in that year.

Why it matters: You need it to claim back overpaid tax, apply for tax credits, or prove your income for a mortgage.

P45 (Details of Employee Leaving Work)

You get this when you leave a job. It shows how much tax you've paid in the tax year so far.

Why it matters: You must give this to your new employer so they can put you on the correct tax code. Without it, you might be put on an emergency tax code.

P11D (Expenses and Benefits)

Your employer sends this to HMRC if you get "benefits in kind" like a company car, private health insurance, or interest-free loans.

Why it matters: These benefits are taxable. HMRC uses this form to adjust your tax code (often using a 'K' code) to collect the tax owed.

Your Payslip Explained

Your payslip shows your gross pay (before tax) and your net pay (what lands in your bank account).

Payments (Credits)

  • Basic Salary
  • Overtime / Bonus
  • Commission
  • Expenses reimbursements

Deductions (Debits)

  • Income Tax (PAYE)
  • National Insurance
  • Pension contributions
  • Student Loan repayments

Check Your Payslip Accuracy

Does your net pay match what you expected? Use our calculator to verify your deductions and spot any errors.

Verify your payslip with our UK Salary Calculator →