The basic annual salary for an MP from 1 April 2014 is £67,060. MPs also receive expenses to cover the costs of running an office, employing staff, having somewhere to live in London and in their constituency, and travelling between Parliament and their constituency.
The Independent Parliamentary Standards Authority (IPSA) announced on 16 July 2015 that MPs will be paid an annual salary of £74,000, backdated to 8 May 2015. The change to the salary will take effect from 31 July 2015. The backdated salary payment will be made on 28 August 2015.
Since the May 2010 General Election the Independent Parliamentary Standards Authority (IPSA) has been responsible for the regulation and payment of expenses to Members of the House of Commons.
House of Commons stationery and postage paid envelope costs
The House of Commons provides a cash limited sum per year for the provision of postage paid envelopes and House of Commons stationery to all Members; this sum is in addition to any costs that may be reimbursed under the IPSA expenses scheme.
Allowances to May 2010
In June 2009 more than a million documents and receipts were made available to the public online. These related to MPs' claims dating back to 2004/05 and up to 2007/08. These pages have been updated to include information about claims made for costs incurred when staying away from the MPs' main home in 2008/09 and the first quarter of 2009/10
MPs' pay and pensions
On 24 May 2011 the Independent Parliamentary Standards Authority (IPSA) was made responsible for determining MPs' pay and setting the level of any increase in their salary. IPSA is also responsible for the oversight of the MPs' pension scheme.
In the Commons, some MPs are paid more because of the special jobs they hold. For example, the Speaker and the Chairs of Committees receive an extra salary.
Most MPs who are also ministers in the Government are paid an extra ministerial salary
The MPs' Pension Scheme is part of the Parliamentary Contributory Pension Fund (PCPF). Further information about the scheme can be found on the PCPF website.
Payments to Opposition parties
Some money is paid to those political parties represented in Parliament who are not in government. This is to help ensure that the Opposition and minority parties have enough funds to carry out their parliamentary role and to put across their views.
The amount given to each party depends on how many people voted for them at the last general election and how many of their candidates were elected. In the House of Commons this is known as 'Short Money'; in the House of Lords it is known as 'Cranborne money'.