Legally, your employer cannot make a deduction from your pay unless it is written in your contract, or you have agreed to it, or the law allows it.For more information click here.
You should talk to your manager or Personnel/HR department, if you have one, or a Trade Union official (if your employer recognises a Union) and ask why they are thinking about doing this.
If they are not happy with your attendance or work they should deal with the issues fairly under a Disciplinary Procedure, which they legally must have (or a Capability procedure if they have one) – an outcome of a completed Disciplinary Procedure may be that your pay is reduced if this is an agreed option of the Disciplinary Procedure (for more information on Disciplinaries click here).
If money is deducted you can make a grievance against your employer (your employer must legally have a Grievance Procedure which you should see), if you cannot resolve this by talking to them first. For more information on Grievances click here.
If the Grievance process does not reach a satisfactory conclusion for you, you can make a claim to Industrial Tribunal about an unlawful deduction of wages (see www.employmenttribunals.gov.uk) but there are time limits that you need to meet to make a claim.
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