pay as you earn
The national system whereby income tax and national insurance is deducted by an employer from the salary or wages of an employee.

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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 — PAYE The 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… …   Accounting dictionary

  • 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

  • Pay As You Earn - PAYE — A system of income tax withholding that requires employers to deduct income tax, and in some cases, the employee portion of social benefit taxes, from each paycheck delivered to employees. The pay as you earn (PAYE) system requires that employers …   Investment dictionary

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