I just started a new job and got paid for the first time today. I have something on my pay slip that says EXCH DD with an amount deducted against it. Does anyone have any ideas what that is? I have previously been self employed for five years so could it have something to do with that? I have googled it and cant seem to find anything that explains it.

Do you know if it is taxable or NIC'able - what style payslips are they?

It could be a company specific deduction and not statutory - so is it post or pre-tax?

TY for responding. Its pre tax. I have a EXCH ALL benefit added and a EXCH DD deducted and the difference between the two is less than a fiver that I have lost.


Edited: as I am currently registered as self employed the tax and NI contributions are all wrong and I need to call the tax office on Monday anyway so Ill ask them. I only paid £1.19 NI lol.

custard said:

http://www.legalbeagles.info/forums/showthread.php?p=211934

Click to expand...

Thanks I found that site already, this is a temping agency so no benefits pension schemes or anything like that, just hard work for not much pay lol.

Why do you feel the NI is wrong - if you are self-employed, you will be paying Class 2 NIC and Class 4 NIC. If employed, you will be paying Class 1. There is nothing wrong in that respect.

Your tax code may be wrong - have they used BR, 0T, 747L or 747L M1/W1 ?

Did you sign a P46? If so, what box did you tick - A, B or C?

PS - I am a self-employed qualified accountant and run numerous monthly payrolls, so any questions, feel free to ask