Understanding your Payslip

4 minute video

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Making sense of your earned income

As an employee, you should receive a payslip. This shows the money you earn, the allowances you are entitled to and the taxes you pay. In this short animated video you learn what all the numbers mean and gain the knowledge you need to understand your gross and net income. Feeling informed about your personal finances helps to build your confidence with money and improve your financial wellbeing. It’s a good idea to seek help from your organisation or other reputable sources if you have questions about your personal finances.

Summary of learning messages

  • If you are an employee you should receive a payslip
    Your payslip shows your income, your deductions and your take-home pay

  • Be familiar with the information on your payslip
    The data on your payslip tells you how your take-home page is calculated

  • The tax year is from 6th April
    The ‘year-to-date’ is from the current tax year, from 6th April.

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