Money

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Created by: Lucy1499
Created on: 03-05-16 18:40

Gross Pay

The total amount of pay you have earned BEFORE deductions.

1 of 10

Net Pay

Pay AFTER deductions like tax and National Insurance.

2 of 10

Compulsory Contributions

Income tax, National insurance

3 of 10

Voluntery Contributions

Superannuation (private pension), Trade Union etc.

4 of 10

Tax codes

P60 - Summary of pay and deductions P45 - Given by the employer when you leave the job. It shows pay and deductions.

5 of 10

Salary

Fixed amount which is paid regularly.

6 of 10

Commision

Wages based on percentage of sales/performance - seperate from your wage or salary.

7 of 10

Piece Work

Paid for each piece you make / produce

8 of 10

Fee

Fixed charge for a service.

9 of 10

Bonus

Sum of money in addition to salary/wage.

10 of 10

Other cards in this set

Card 2

Front

Pay AFTER deductions like tax and National Insurance.

Back

Net Pay

Card 3

Front

Income tax, National insurance

Back

Card 4

Front

Superannuation (private pension), Trade Union etc.

Back

Card 5

Front

P60 - Summary of pay and deductions P45 - Given by the employer when you leave the job. It shows pay and deductions.

Back

View more cards

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Money