pay as you earn
- = PAYEThe UK scheme by which both income tax and National Insurance contributions due from employees are collected by employers and paid over by the employers to the Collector of Taxes. Employers deduct tax and National Insurance from the weekly or monthly taxable income of their employees, using income tax codes and tax tables supplied to them by the Board of Inland Revenue (now usually in the form of computer software). The total amount deducted for each tax month, together with the employers' National Insurance contribution, is paid over to the Collector of Taxes.
Accounting dictionary. 2014.
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pay as you earn — (PAYE) Employees pay Schedule E income tax and the employer is responsible for deducting the tax due (in accordance with the employee s allocated tax code) and paying it to the Inland Revenue. Certain records must be kept by the employer for the… … Law dictionary
pay-as-you-earn — pay as you earnˈ noun A method of income tax collection in which the employer deducts tax from earnings before paying the employee (abbrev PAYE) • • • Main Entry: ↑pay * * * pay as you earn «PAY uhz yu URN», noun. British. the withholding of… … Useful english dictionary
Pay As You Earn — Known as the PAYE scheme . Dresdner Kleinwort Wasserstein financial glossary A system whereby employees suffer income tax deduction at source from their salaries. Instead of paying the gross salary to the employee, the employer is obliged under… … Financial and business terms
pay as you earn — noun the British system of withholding tax • Syn: ↑PAYE • Hypernyms: ↑withholding tax, ↑withholding * * * ˌpay as you ˈearn [pay as you earn] … Useful english dictionary
Pay-As-You-Earn — Known as the PAYE scheme . Dresdner Kleinwort Wasserstein financial glossary A system whereby employees suffer income tax deduction at source from their salaries. Instead of paying the gross salary to the employee, the employer is obliged under… … Financial and business terms
pay as you earn — /ˌpeɪ əz ju: ɜ:n/ noun a tax system, where income tax is deducted from the salary before it is paid to the worker. Abbreviation PAYE (NOTE: The US term is pay as you go.) … Dictionary of banking and finance
Pay As You Earn — HR in the United Kingdom, a system for collecting direct taxes that requires employers to deduct taxes from employees’ pay before payment is made. Abbr. PAYE … The ultimate business dictionary
pay as you earn — noun The national system whereby income tax and national insurance is deducted by an employer from the salary or wages of an employee … Wiktionary
pay-as-you-earn — See PAYE … Big dictionary of business and management
Pay-as-you-earn tax — For other uses see Paye (disambiguation) Pay as you earn or PAYE refers to a system of withholding of income tax from payments to employees. Amounts withheld are treated as advance payments of income tax due. They are refundable to the extent… … Wikipedia