If you are an employee and taxed via PAYE (Pay As You Earn) your payslips from your employer, or employers, are calculated on a cumulative basis.
What this means is that your employer uses the tax code that has been given for you for a particular tax year to calculate your tax free allowances on a month by month, or week by week basis.
Ultimately, the amount of gross income you earned in the tax year so far and tax paid in the year so far is used to calculate your next payslip.
Sounds complicated doesn't it? Well, never mind, we have just launched our free payslip calculator which simplifies this and calculates it all for you.
Go ahead and check your last payslip, or estimate your next payslip (you can enter overtime, commissions and bonuses etc) at the Payslip Calculator.
At time of writing this post, the calculator is updated for the 2011/2012 tax year, including 2008 -2010 too.
You can also select options for Student Loan Deductions, NIC Letters and Pensions!
Update - Try the payslip widget below
Get your own at http://www.uktaxcalculators.co.uk/free-tax-calculator-widget.php