Your Payslip Explained

Company Income Received

1. Company Income and Costs
This is the total timesheet value Contractor Umbrella received from your Agency/End Client.

2. Private Pension
This is the Pension Contribution made into your SIPP. If you are paying into the group workplace scheme with Scottish Widows, any amount over and above auto enrolment (shown as employers contribution and employees contribution) will show here.

3. Apprenticeship Levy
This is the amount Contractor Umbrella pays HMRC for the Apprenticeship Levy fee. This is at a rate of 0.5% and is due on all salary payments made by Contractor Umbrella. This amount is included within the contract rate.

4. Employers NI
The total NI paid by Contractor Umbrella. This amount is included within the contract rate.

5. Employer’s Pension
The Employer’s contribution paid into your workplace pension by Contractor Umbrella. This amount is included within the contract rate.

Assignment Rate(s)
Units = The number of days/hours worked.
Rate = The agreed rate with your Agency/End Client. TOTAL = The total of the rate x units worked. Agency/Description = Agency/End Client Name. Weekend Date = The period the work was completed.

Payslip
Employee Name = Your Name.
Employee Number = Unique payroll number to identify you.
NI Number = National Insurance Number.
Tax Code = The Tax Code applied to your payroll by instruction from HMRC.
Pay Date = Date funds paid to you.
Periods = The number of pay periods the payslip covers and how many periods of allowances have been used.

Payments
Basic Rate = The element of your pay used to calculate the National Minimum Wage level. Holiday Pay = 12.07% of your GROSS taxable pay.
Additional Taxable Wage = The remainder of your income outside of NMW and Holiday pay, paid to you.
Pension (Salary Sacrifice)* = Workplace pension contributions *This figure is in (brackets) as it is a deduction made to your pay. It is not currently included on the deductions side of the payslip but the brackets indicate that it is a minus figure.

Deductions
PAYE (Income Tax) = Tax paid on your salary.
Employees NIC = National Insurance Contributions you pay on your salary.
Net Pay Already Processed* = Amounts already paid to you as an advance payment (if applicable) or if you have been paid already in the same tax period.

Contractor Umbrella
PAYE Reference = Contractor umbrella’s unique Employers PAYE reference Number. Tax Period = Week or Month of the tax year. The tax year starts from 6th April. Period Ending = Tax Period the payment falls into.
Pay Frequency = How often you are paid.

This period
Total taxable pay = Amount paid to you on this payslip
Earnings for NIC’s = Amount included in the NIC calculations for this payslip. Expenses = Total of any expenses paid to you in this period.
NET Payment – Amount paid into your bank

Year to Date
Total Taxable Pay = Total salary received since 6th April.
Total NIable Pay = Total amount included in the NIC calculations PAYE Income Tax = Total PAYE tax paid since 6th April
National Insurance = Total National Insurance paid since 6th April.