the British system of withholding tax.
Abbreviation for Pay-As-You-Earn, a taxation procedure for wage and salary earners under which income tax is deducted in instalments from periodic (ie. weekly) pay.
Paye As You Earn. Tax taken directly from an employee's salary by their employer before payment and sent to the Inland Revenue.
The HM Customs & Excise System for collecting income tax from the pay of employees to a company.
People who earn income from employment or who receive a pension are liable for income tax under the PAYE system. Taxable pay(gross salary less pension contributions less allowances) is used by the employer to calculate a person's income tax (according to his/her notice of coding) which is passed to the Inland Revenue usually monthly or weekly. This ensures that employees pay their income tax on a regular basis.
Pay-As-You-Earn - where your employer takes income tax off your salary or wages before you get it, and pays it direct to the Inland Revenue on your behalf.
Pay As You Earn, Name given to scheme where income tax is automatically deducted from salaries by employers on behalf of the Inland Revenue.
Pay As You Earn. Tax is taken from your pay by your employer before you get it
Pay As You Earn. PAYE is a system for the collection of income tax from wage and salary earners, by way of advance instalments of tax deductions. The tax deductions are taken by employers from payments made to their employees. It is generally deducted on a weekly, fortnightly or monthly basis, according to the employee's pay period.
If a company has paid employees they must be paid via the PAYE scheme more
Pay As You Earn. (UK) A British taxation scheme where taxes are ded... Add a comment
this means Pay-as-you-earn. It is a method of paying your income tax. Your employer takes a part of your monthly salary and pays it to the Inland Revenue.
Abbrev. For Pay As You Earn. A system in which tax is paid by salary and wage earners and annuitants in the form of compulsory deductions from the periodical sums due to them.
PAYE, or Pay As You Earn, is the most common method of collecting income tax More Payment Holiday - A payment holiday allows you to take a break from repayments on your loan More
An employer collects income tax and national insurance are collected from employees' pay and pays it to the Inland Revenue. This system is called Pay As You Earn (PAYE).
PAYE stands for Pay As You Earn. Your employer is responsible for deducting tax and national insurance from your salary and paying this over to H M Revenue & Customs.
Pay-As-You-Earn method of income tax collection.
Pay As You Earn. The standard for paying Income Tax in the UK. Payroll departments will be familiar with this term, as it sets the standard for all pay slips and employee tax documents. Payroll software is designed with this as its guiding principle.
Pay as you earn . When tax is taken out of a salary automatically by the employer. The majority of Australian workers fall under this category. Business owners and contract employees do not fall under this category.
Scheme set up by businesses to pay income tax and National Insurance contributions to the Inland Revenue from employees' earnings.
Pay As You Earn – Income Tax paid by employees, collected by employers link to Inland Rev site
PAYE stands for Pay As You Earn. It is the system used for the taxation of nearly all employees. It is not used for self-employed workers (taxed under the Self Assessment system), nor for companies (who pay Corporation tax instead). PAYE is a way of spreading employee income tax over the tax year. The tax year starts on 6 April of one year and ends on 5 April in the next. Under PAYE, employers take tax from the employee's weekly or monthly earnings and pay it over to the Inland Revenue. All employees can earn some money each year without paying tax, using their annual personal allowance and any other relevant allowances.
Pay as you earn tax payments Related links: Taxation Workcover
Pay as you earn. People who earn income from employment or who receive a pension are liable for income tax under the PAYE system.
Acronym for Pay As You Earn. PAYE is the system under which your employer deducts income tax from your pay during the year. It is a sophisticated system as it takes into account your personal allowances and the different tax rates and tax bands. The tax deducted must be shown on your payslip each pay day, and on the P45 which is given to you when you leave that employment, or on the P60 form which is given to you at the end of the tax year.
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 benefit of the Inland Revenue.
See Pay As You Earn.