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
- Agency WorkerEmployment
- A worker placed at a client by a recruitment agency, paid by the agency or an umbrella company. Full definition
- ArrearsEmployment
- Back-pay owed from an earlier period and taxed when it is finally paid. Full definition
B
- BonusEmployment
- An extra payment fully taxed and NI-charged in the period it is paid. Full definition
C
- CommissionEmployment
- Performance-linked pay treated as ordinary earnings for PAYE and NI. Full definition
G
- Gross PayEmployment
- Total earnings before any tax, NI, or other deduction is taken. Full definition
H
- Holiday PayEmployment
- Pay received while on annual leave, at your normal rate. Full definition
L
- Lieu Days / TOILEmployment
- Time Off In Lieu - paid time off given instead of overtime pay. Full definition
N
- National Living Wage (NLW)Employment
- The legal minimum hourly rate for workers aged 21+, £12.21 for 2026/27. Full definition
- National Minimum Wage (NMW)Employment
- Age-banded legal minimum hourly rates for workers under 21 and apprentices. Full definition
- Net PayEmployment
- The take-home figure paid into your bank account after all deductions. Full definition
O
- OvertimeEmployment
- Hours worked above contracted hours, often paid at a premium rate. Full definition
P
- Pay PeriodEmployment
- The interval - weekly, fortnightly, four-weekly or monthly - covered by one payslip. Full definition
T
- TUPE TransferEmployment
- Rules that protect employees' jobs and terms when their employer changes through a business transfer or service provision change. Full definition
U
- Umbrella CompanyEmployment
- A payroll intermediary that employs contractors and runs PAYE for them. Full definition
Y
- YTD (Year to Date)Employment
- Running totals since 6 April for pay, tax, NI and other items. Full definition
Z
- Zero-Hours ContractEmployment
- A contract with no guaranteed hours but full holiday and minimum wage rights. Full definition