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Payslip format

Are their guidelines to follow

We do payroll for approximately 50 employees using standard payroll software -  Moneysoft- which I assume is HMRC approved. However, we are finding that due to the description we use on the face of our payslips, our employees face difficulty in obtaining the maximum mortgage that they would like.

Does anybody know or provide me with a link of the "correct" format for a payslip? Or is it whatever you the Employer wish it to be subject to disclosures as to Pay, deductions and year to date figures and nett pay received. 

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By tom123
20th Jul 2018 11:07

What, exactly, are the financial 'advisers' finding too difficult to understand?

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20th Jul 2018 11:41

Immediately here's me "why not just tell us what descriptions you use on the face of your payslips, what with it being the key to the problem, so it is ?"

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20th Jul 2018 11:44

The educational attainments of the average "financial adviser" in the mortgage world are generally not high and they're very poorly trained. That's probably what the problem is.

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By tom123
to Moonbeam
20th Jul 2018 12:23

I did wonder, but was trying to be diplomatic.

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20th Jul 2018 14:37

The legal requirements for a payslip are very minimal indeed. Basically a sheet of paper with the name of the person on it, the date of the payment, the total payment (no need for a work up to gross), and itemised deductions is sufficient. Everything else is fluff (albeit useful fluff; most employers would find it in their interest to supply more information than that, if only to reduce the number of questions from employees)

What a mortgage company or adviser might want is anyone's guess.

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By tom123
to TomMcClelland
20th Jul 2018 14:48

In the absence of the OP, I am guessing there are salary sacrifice arrangements or similar going on, such that the top line does not equate to what the employee says his monthly pay is.

But then, who knows.

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to tom123
20th Jul 2018 17:26

If so, the solution in Moneysoft or any other payroll package is to show both the gross salary and the salary sacrifice as separate pay elements on the payslip. Both are taxable and NICable and the sacrifice is best shown as a negative addition, so that it appears in the pay column, rather than in the deductions column like tax and NIC.

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By acceje
20th Jul 2018 16:18

Moneysoft have a number of layouts - I use Sage 2 SE95 and have never had a problem.

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20th Jul 2018 19:05

Just wondering why we're all guessing when the OP can't be bothered to say what his problem is.

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30th Jul 2018 10:25

Thank you for your comments. Sorry I was not able to respond on the day.

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