understanding your payslip - umbrella company · call 0844 087 0079 / 01925 644 860 ...

Call 0844 087 0079 / 01925 644 860 www.parasolgroup.co.uk [email protected]

Understandingyour payslip

Name : John Smith

Pay date : 15 April 2016

Employee number : 12345-001

NI number : AA123456A

Tax code : 1060L (Week1)

Payroll tax period : Week 1 (6 April 2016 - 12 April 2016)

Payslip

Tax office address:

HM Revenue & Customs, Pay As You Earn,

PO Box 1970, Liverpool, L75 1WX

Tel: 0300 200 3300 Parasol tax reference: 709/BZ01745

Parasol address:

Parasol Ltd, Optionis House, 840 Ibis Court, Centre Park,

Warrington, Cheshire WA1 1RL

Company reg no, 394 0716 vat reg no, 892 2118 22

This is your official payslip, please keep it safe for your own records

You have been advanced £32.46 in relation to Holiday pay. When you are on holiday you won't

receive any further pay.

You have been advanced £108.67 in relation to Pay Between Assignments (PBA). When you

are between assignments & available for work, this advance will contribute to the PBA due for

that period.

Period Year to date

£268.00 £1,010.40

£32.35 £121.96

£96.97 £481.81

£11.70 £58.14

£0.89 £3.56

Summary

Basic pay (number hours x NLW)

Holiday pay on basic pay

Advance - PBA

Holiday pay on advance of PBA

Commission

Holiday pay on commission £0.11 £0.44

£410.02Total

All the above elements are subject to PAYE tax and employee national insurance

Period Year to date

£126.75£30.60

£41.00 £171.40

£6.00 £29.00

£41.00 £40.00

£25.00

£2.40

Deductions

Employee national insurance

PAYE income tax

Student loan

Attachment of earnings

Net adjustments

Employee pension deduction (AE)

Total deductions £146.00

Net total

Payment method: To be sent by same day payment transfer

£264.02

TotalAmounts reimbursed

this payment

Previous amounts

reimbursed this period

Reimbursed

amounts

"Total payment now due from Parasol

£14.48£14.48£0.00Business costs£264.02

Total £0.00 £37.58 £37.58Payment method: To be sent by same day payment transfer

Net total

Business costs and mileage totalTotal

£37.58

£301.60

Payments: in detail

Invoices: These are the invoices that Parasol has raised for the work you have completed in this period

Invoice no. Period Parasol billed invoice

amount (exc VAT)

ReceivedInvoice Type Timesheet id No. hours

SB01388705 7 Mar 2016 - 13 Mar 2016 £625.00£625.00Time 2669669 40.00

£625.00 40.00

Summary

Summary: This shows how we split the amount we receive for your work. The total amount available to you after these deductions matches the amount in the payslip section above

£625.00Total invoice value

Less:

£39.50Parasol Margin

£35.89Employment costs (see your payslip explanation for more detail)

Business costs £14.48

£6.00Employer pension contribution (Non Auto Enrolment)

£6.01Employer pension contribution (Auto Enrolment)

Childcare vouchers £55.00

£410.02Total

Agreed

contribution

Previous

contribution

Contribution

this period

Contribution to be

carried forward

Non Auto Enrolment pension: This shows the pension contributions made in this period

Pension

period

£2.0031 Aug 2015 £2.00 - -

£2.0007 Sep 2015 £2.00 - -

£2.0014 Sep 2015 £2.00 - -

£6.00

Payslip Version 5.00 of 2

£23.10Mileage

£23.10£23.10£0.00Mileage

Same Day Payment Margin £35.00

Name : John Smith






Payslip

Tax office address:




Parasol address:









that period.

Period Year to date

£268.00 £1,010.40

£32.35 £121.96

£96.97 £481.81

£11.70 £58.14

£0.89 £3.56

Summary



Advance - PBA


Commission


£410.02Total


Period Year to date

£126.75£30.60

£41.00 £171.40

£6.00 £29.00

£41.00 £40.00

£25.00

£2.40

Deductions


PAYE income tax

Student loan


Net adjustments



Net total


£264.02


this payment

Previous amounts


Reimbursed

amounts


£14.48£14.48£0.00Business costs£264.02


Net total


£37.58

£301.60

Payments: in detail



amount (exc VAT)


SB01388705 7 Mar 2016 - 13 Mar 2016 £625.00£625.00Time 2669669 40.00

£625.00 40.00

Summary



Less:







£410.02Total

Agreed

contribution

Previous

contribution

Contribution

this period

Contribution to be

carried forward


Pension

period

£2.0031 Aug 2015 £2.00 - -

£2.0007 Sep 2015 £2.00 - -

£2.0014 Sep 2015 £2.00 - -

£6.00

Payslip Version 5.00Page 1 of 2

£23.10Mileage

£23.10£23.10£0.00Mileage


Parasol payslips are similar to those you might have received in the past, but in addition we also provide a handy summary of additional information (purple and green sections).

You can get a copy of your payslip and additional information in the format displayed in this guide by going to MyParasol. From the ‘When will I get paid?’ menu select ‘View your payslip’ and then select the payroll date you want and then click ‘Email me this payslip’.

The portal shows the same information on screen for the selected payroll date but is not your official payslip.

Summary section

Basic pay Your basic pay is calculated as the total hours you have worked multiplied by the National Living Wage hourly rate.

Holiday pay Instead of paying you whilst you’re on holiday, Parasol pays you in advance in every payroll. This holiday pay is calculated as a percentage of any pay you receive, excluding business costs and expenses.

Advance of Pay Between Assignment (PBA)Just like holiday pay, instead of paying you when you are between assignments, Parasol pays you in advance. When you are between assignments and available for work, this advance will contribute to the PBA due for that period.

Commission The amount paid as commission is calculated based on the income Parasol receives from the invoices for your work after deducting all payroll costs (e.g. basic pay, holiday pay, etc) and Parasol’s margin as detailed in your Contract of Employment


Deductions

Reimbursed business costs and mileage

Employee National Insurance (NI) This is standard National Insurance, which everyone who is employed in the UK and earns above the threshold pays.

PAYE income tax

This is the ‘Pay As You Earn’ tax, which we deduct from your pay on behalf of the taxman.

Net adjustmentsThese are for any adjustments to your net pay that you have agreed to, for example, a pay advance recovery if you have already been paid some of your net pay in advance.

AttachmentsThis is an amount we have been instructed to deduct from an attachment of earnings. For example a payment to the Child Support Agency (CSA).

Employee pension contribution (Auto Enrolment)If you are a member of the Auto Enrolment pension scheme and have a valid National Insurance number, or are a foreign national awaiting your National Insurance number, you’ll contribute 2.4% of your basic pay into your pension. On top of that, HMRC will also contribute 0.6% of your basic pay directly into your pension. NEST (our Auto Enrolment pension scheme provider) organise this on your behalf

If you are a member of the Auto Enrolment pension scheme but don’t have a valid National Insurance number you’ll contribute 3% of your basic pay and HMRC don’t contribute anything.

This contribution will increase from April 2019 in line with Pensions legislation.

Student LoanThis is an amount we have been instructed to deduct from you for a student loan.

Net total This is the amount that will be paid to you.

Client billable expenses / Business costs and mileage These are the amounts that we have reimbursed to you during the period.

Total payment now due from Parasol This is the Net total amount plus any business costs and mileage we have reimbursed to you during the period. This is the total amount that will be paid into your bank account.

Name : John Smith






Payslip

Tax office address:




Parasol address:









that period.

Period Year to date

£268.00 £1,010.40

£32.35 £121.96

£96.97 £481.81

£11.70 £58.14

£0.89 £3.56

Summary



Advance - PBA


Commission


£410.02Total


Period Year to date

£126.75£30.60

£41.00 £171.40

£6.00 £29.00

£41.00 £40.00

£25.00

£2.40

Deductions


PAYE income tax

Student loan


Net adjustments



Net total


£264.02


this payment

Previous amountsreimbursed this period

Reimbursed

amounts


£14.48£14.48£0.00Business costs£264.02


Net total


£37.58

£301.60

Payments: in detail



amount (exc VAT)


SB01388705 7 Mar 2016 - 13 Mar 2016 £625.00£625.00Time 2669669 40.00

£625.00 40.00

Summary



Less:







£410.02Total

Agreed

contribution

Previous

contribution

Contribution

this period

Contribution to be

carried forward


Pension

period

£2.0031 Aug 2015 £2.00 - -

£2.0007 Sep 2015 £2.00 - -

£2.0014 Sep 2015 £2.00 - -

£6.00


£23.10Mileage

£23.10£23.10£0.00Mileage


Name : John Smith






Payslip

Tax office address:




Parasol address:









that period.

Period Year to date

£268.00 £1,010.40

£32.35 £121.96

£96.97 £481.81

£11.70 £58.14

£0.89 £3.56

Summary



Advance - PBA


Commission


£410.02Total


Period Year to date

£126.75£30.60

£41.00 £171.40

£6.00 £29.00

£41.00 £40.00

£25.00

£2.40

Deductions


PAYE income tax

Student loan


Net adjustments



Net total


£264.02


this payment

Previous amounts


Reimbursed

amounts


£14.48£14.48£0.00Business costs£264.02


Net total


£37.58

£301.60

Payments: in detail



amount (exc VAT)


SB01388705 7 Mar 2016 - 13 Mar 2016 £625.00£625.00Time 2669669 40.00

£625.00 40.00

Summary



Less:







£410.02Total

Agreed

contribution

Previous

contribution

Contribution

this period

Contribution to be

carried forward


Pension

period

£2.0031 Aug 2015 £2.00 - -

£2.0007 Sep 2015 £2.00 - -

£2.0014 Sep 2015 £2.00 - -

£6.00


£23.10Mileage

£23.10£23.10£0.00Mileage



Payments: in detail

This is the summary of extra information to show you how we have calculated your payments.

InvoicesThis section shows the invoices that we have raised and sent to the agency or client for the work that you have done.

SummaryThis section shows how we get from the invoices to the value that is eventually split between what is paid to you, what is paid to HMRC, what is paid into your pension(s) and what is retained by us.

Within the summary section:

• Total invoice value is the received amount taken from the Invoices sections above

• Parasol margin is the margin that we retain from the invoices we raise for your work. This is a fixed amount per week or month

• Employment costs refer to employers National Insurance contributions and employment related tax which is calculated at 14.3% (after allowances)

• Childcare vouchers - this is an amount retained for the childcare voucher scheme which we pay to Sodexo

• Employer pension contribution (Non Auto Enrolment) – if you are a member of the Non Auto Enrolment pension scheme, Parasol will retain the total Contributions This Period amount shown in the Non Auto Enrolment pension section and pay this into your Non Auto Enrolment pension

• Employer pension contribution (Auto Enrolment) – if you are a member of the Auto Enrolment pension scheme, Parasol will retain an amount calculated as 3% of your basic pay to contribute to your pension

• Same Day Payment margin is the margin that we retain for Same Day Payments. This is a fixed amount of £35 per Same Day Payment

• Total – the total figure is the one shown in the Summary section of your official payslip

Name : John Smith






Payslip

Tax office address:




Parasol address:









that period.

Period Year to date

£268.00 £1,010.40

£32.35 £121.96

£96.97 £481.81

£11.70 £58.14

£0.89 £3.56

Summary



Advance - PBA


Commission


£410.02Total


Period Year to date

£126.75£30.60

£41.00 £171.40

£6.00 £29.00

£41.00 £40.00

£25.00

£2.40

Deductions


PAYE income tax

Student loan


Net adjustments



Net total


£264.02


this payment


Reimbursed

amounts


£14.48£14.48£0.00Business costs£264.02


Net total


£37.58

£301.60

Payments: in detail



amount (exc VAT)


SB01388705 7 Mar 2016 - 13 Mar 2016 £625.00£625.00Time 2669669 40.00

£625.00 40.00

Summary



Less:







£410.02Total

Agreed

contribution

Previous

contribution

Contribution

this period

Contribution to be

carried forward


Pension

period

£2.0031 Aug 2015 £2.00 - -

£2.0007 Sep 2015 £2.00 - -

£2.0014 Sep 2015 £2.00 - -

£6.00


£23.10Mileage

£23.10£23.10£0.00Mileage



Payments: in detail continued

Non Auto Enrolment PensionIf you are a member of the Non Auto Enrolment Pension scheme, this section shows the employer pension contributions that have been made in the payslip period.

Business costs and mileageIn this section you can see what business costs and mileage you have claimed, those previously approved and paid, those approved and paid in this payroll and if there are any checked claims available for future payrolls.

Name : John Smith






Payslip

Tax office address:




Parasol address:









that period.

Period Year to date

£268.00 £1,010.40

£32.35 £121.96

£96.97 £481.81

£11.70 £58.14

£0.89 £3.56

Summary



Advance - PBA


Commission


£410.02Total


Period Year to date

£126.75£30.60

£41.00 £171.40

£6.00 £29.00

£41.00 £40.00

£25.00

£2.40

Deductions


PAYE income tax

Student loan


Net adjustments



Net total


£264.02


this payment


Reimbursed

amounts


£14.48£14.48£0.00Business costs£264.02


Net total


£37.58

£301.60

Payments: in detail



amount (exc VAT)


SB01388705 7 Mar 2016 - 13 Mar 2016 £625.00£625.00Time 2669669 40.00

£625.00 40.00

Summary



Less:







£410.02Total

Agreed

contribution

Previous

contribution

Contribution

this period

Contribution to be

carried forward


Pension

period

£2.0031 Aug 2015 £2.00 - -

£2.0007 Sep 2015 £2.00 - -

£2.0014 Sep 2015 £2.00 - -

£6.00


£23.10Mileage

£23.10£23.10£0.00Mileage


Checked claims

available

Claims previously

approved & paid

Claims approved &

paid in this payroll

Checked claims available for

future payrolls

Business Costs & Mileage: These are the amounts we have processed for you in this period. *

Claimed period

14-Sep-2015 - 20-Sep-2015 £0.00£37.58£37.58 £0.00

£37.58


understanding your payslip - umbrella company · call 0844 087 0079 / 01925 644 860 ...

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