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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