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UK Payslip Terms Quiz

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Questions and Answers

What is the abbreviation for National Insurance Contributions on a UK payslip?

PAYE

NIC (correct)

What is the term for the amount of pay on which income tax is calculated?

Gross pay

Net pay

Overtime pay

Taxable pay (correct)

What is the purpose of a tax code on a UK payslip?

To determine the employee's overtime rate

To determine the employee's pension contribution

To determine the employee's income tax rate (correct)

To determine the employee's National Insurance Contributions

What is the term for the amount of pay an employee takes home after deductions?

Net pay Signup and view all the answers

What is the abbreviation for an employee's unique identifier on a UK payslip?

Employee number Signup and view all the answers

What is the primary purpose of an NI number?

To ensure accurate National Insurance Contributions Signup and view all the answers

What is the term for additional hours worked beyond the regular schedule?

Overtime Signup and view all the answers

What does PAYE stand for?

Pay As You Earn Signup and view all the answers

What is a pension?

A long-term savings plan for retirement Signup and view all the answers

What is the purpose of an employee number?

To uniquely identify an employee within a company Signup and view all the answers