Consumer Corner: What you need to know about your payslip

From PRSI to tax credits - here's how to figure out what you're getting paid 

Consumer Corner: Do you know what's in your pay slip?

The recent budget had a raft of announcements about how we would be getting more money in our pockets thanks to changes with our pay. Many can look forward to paying less on the Universal Social Charge and less on income tax. They also announced there would be an increase in the PRSI contributions rate. But what does it all mean? We know it means more money essentially but how? Do you ever get your payslip at the end of the month and wonder why so much of your gross pay never makes it into your pocket? What do all nasty letters that take your money in between mean?

Marian Ryan, Consumer Tax Manager at Taxback.com said that there are few documents that hold as much significance as the humble payslip.