P60, P45 vs Payslips

gbadap

I am in the dilemma understanding the difference between, especially how to work out the difference between the value on my P60 and payslips. To my understanding, i would think that the payment of my employment declare on the P60 should equate the total pay on my payslips. Unfortunately, i can see a difference between the two values. Can someone clarify this with me please. e.g (P60 is 25000, total value of payslips is 20000). I am confused with this discrepancy.
Looking forward to a clarification from someone with this knowledge.
Thanks 

Dazed_and_C0nfused

It may be down to pension contributions.

Your pay isn't necessarily all taxable.  If you are in a "net pay" pension scheme then you might earn £25k but if you contribute £5k to the pension then your taxable pay, the figure which will be shown on your P60, will be £20k.

Salary sacrifice can also have a similar impact albeit it isn't you contributing to a pension with salary sacrifice.

chrisbur

Are you comparing the P60 figure with the taxable gross to date on your payslip?
You mention P45 in the heading have you had a P45 during the tax year?