Money Matters
Tax, National Insurance and pensions
When you start work you will normally pay tax and national insurance out of your wages. Your employer will normally deduct these from your pay (gross pay) and you will receive a pay slip showing the deductions. Your pay after deductions is net pay. Find out more about tax rates.
Some income is tax free; this is normally known as the personal allowance. There are other forms of income that are also tax free.
National Insurance Contributions are paid by both the employer and employee.
Pensions
All employers must provide a workplace pension scheme. This is called ‘automatic enrolment’.
When you start work, you will normally be auto enrolled into the Company Pension Scheme.
