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Employers in the Milton Keynes area should be aware of the legal requirements concerning payslips – here is the B2B Business Advisors Limited guide to the essentials…
Most employees receive payslips and take them for granted, but what are the legal requirements?
All employees, including those working part-time and temporarily, are entitled to receive a written payslip on or before their pay day. The Employment Rights Act (ERA) sets out the required contents of a payslip:
In practice, most employers give much more information than the basic statutory requirements. For instance, it is obviously good practice to analyse gross pay to show:
It is also usual to show the period covered by the payment, and the date of payment.
You can significantly reduce queries from employees by giving basic details such as:
If you are an employer in the Milton Keynes area we can provide support and advice – contact B2B Business Advisors Limited.
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Keep up to date on the latest from the world of business and tax with our daily news stories.
22 Nov 2019
20% of UK businesses would rather dismiss their contractors than have to deal with IR35, according to research published by recruitment consultancy firm Harvey Nash.
21 Nov 2019
The Liberal Democrats and the Labour Party have both pledged to take action to combat late payments that damage small and medium-sized enterprises (SMEs).
20 Nov 2019
Next April's planned cut in corporation tax is to be put on hold, Prime Minister Boris Johnson told the Confederation of British Industry (CBI) conference on 18 November.
19 Nov 2019
The number of approvals given for the funding of small businesses through the government's Enterprise Investment Scheme (EIS) has dropped, according to figures published by HMRC.