Err Questions - Childcare Apprenticeship

Topics: Tax, Employment, Taxation in the United Kingdom Pages: 3 (1142 words) Published: May 18, 2013
ERR Questions Continued
Task 4
Employee Number – Your employee number is a unique number that is individual to you. It allows your employer to have easy access to your online record. Employer Name – Your employer name is the person who employed you for the position you applied for, most likely your manager. Your employer is the one who gives you your shifts, you’re your wage and has the power to dismiss you. Tax Code – Everyone has different tax codes based on information such as your annual income and if you have more than one job. When people first start a new job they are often put on emergency tax until their tax code is finalised – any money that has been unnecessarily taxed from you can be claimed back, this is called a tax rebate. National Insurance Number – Your NYI number is compulsory to have in order to be employed and is unique to you. It enables the government to work out which tax bracket you are in and how much tax you should receive if any. Net Pay Year to date – Net pay is all of the money you have been paid from your current employer since your day of employment minus any deductions that have been made. Pay before deductions (gross pay) – This is the wholesome amount of money you have been paid altogether since the day you were employed before any legal deductions are made. The deductions made for income tax – People receive deductions for income tax if they earn over £9,440 a year. Income tax is in proportion to your salary, so everyone receives a different amount depending on how much they earn. The deductions for a pension – A pension is not compulsory but is recommended in order to have a guaranteed saved income for when you are retired. You can agree to have a pension in your contract of employment when you are first employed by a company. Any deductions for a pension will be made monthly and the amount paid into your pension can be personalised to you. The amount of pay you actually receive (after deductions) - This is the money you...
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