Crawford Temple from Professional Passport and Dave Chaplin from IR35 Shield give tips on how to understand your payslip, discussing what you should expect, any legal requirements, deductions made and how the salary is determined.
There are two parts to the payslip information given to the contractor. A reconciliation statement and then the payslip. There are specific legal requirements as to how it is displayed, and the payslip must be provided when they are paid. This enables the contractor to understand the money paid to the umbrella, deductions made, and how the salary is determined.