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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.

C

Company Share Option Plan (CSOP)Share Scheme
A discretionary tax-advantaged option scheme for companies that are too large for EMI, with a £60,000 per-employee limit. Full definition

E

Enterprise Management Incentive (EMI)Share Scheme
A discretionary share-option scheme aimed at smaller, growing companies, offering generous tax breaks on options worth up to £250,000 per employee. Full definition

S

Save As You Earn (SAYE)Share Scheme
A tax-advantaged HMRC share scheme that lets employees save monthly to buy company shares at a discount of up to 20%. Full definition
Share Incentive Plan (SIP)Share Scheme
A tax-advantaged scheme allowing employees to acquire shares in their employer through four routes - Free, Partnership, Matching and Dividend shares. Full definition