What is the pension?

What is the pension?

 Income tax Income tax is a tax you pay in the UK on your earnings/income. Most people in the UK get a personal allowance of tax-free income. This is the amount of income you can earn before you pay tax, and determines what tax code is generated for you. This tax code is then used to inform your employer how much income tax they should be taking from your pay. Your tax code will normally start with a number and end with a letter. You can check your tax code by looking on your payslip or by visiting Check your Income Tax for the current year - GOV.UK (www.gov.uk). You will see your income tax contribution (as well as your NI contribution) on your payslip under ‘PAYE’.       
 
Upon starting work in the UK, you may be emergency taxed and given an emergency tax code accordingly. These tax codes are temporary and should be updated as soon as possible. So that the correct tax code can be generated, we will require you to complete a ‘HMRC Starter Checklist’. This form is used to gather the necessary information required to generate the appropriate tax code for you.