UK Payslip Glossary
Every term you might see on a UK payslip, explained in plain English. 97 entries, updated for the 2026/27 tax year.
A
- Apprenticeship LevyCompliance
- A 0.5% employer levy on pay bills above £3 million; never appears on employee payslips. Full definition
- Apprenticeship Levy AllowanceCompliance
- The £15,000 annual offset every employer can claim against the 0.5% Apprenticeship Levy, eliminating the levy for pay bills under £3 million. Full definition
E
- Employer Payment Summary (EPS)Compliance
- Monthly RTI report employers send HMRC to claim reductions and reliefs. Full definition
- Earlier Year Update (EYU)Compliance
- A historical RTI submission used to correct a closed tax year - replaced from 2020/21 onwards by year-end FPS amendments. Full definition
F
- Full Payment Submission (FPS)Compliance
- The RTI return sent on or before each pay day with employee pay and deductions. Full definition
I
- IR35Compliance
- Off-payroll rules that treat 'disguised employees' as employees for tax. Full definition
P
- P11DCompliance
- Annual employer form reporting per-employee benefits in kind to HMRC. Full definition
- P45Compliance
- The leaver document showing year-to-date pay and tax for your next employer. Full definition
- P60Compliance
- Year-end summary of pay and deductions, issued by 31 May. Full definition
- P11D(b)Compliance
- The employer's annual return that reports the total Class 1A NIC due on benefits in kind, alongside the per-employee P11Ds. Full definition
- PAYE Settlement Agreement (PSA)Compliance
- An optional agreement letting an employer settle the income tax and NIC on minor, irregular or impracticable benefits in a single annual payment. Full definition
- P45 Starter DeclarationCompliance
- The choice between Statements A, B and C that a new starter ticks when they don't have a P45, determining the initial tax code. Full definition
R
- Real Time Information (RTI)Compliance
- Per-payday reporting from employers to HMRC; replaced annual P14/P35 returns. Full definition
S
- Self-AssessmentCompliance
- Annual HMRC return for income not collected through PAYE. Full definition