Pay as you earn (PAYE),
Definition of Pay as you earn (PAYE):
Tax payment method in which an employer is required by law to deduct income tax (and national insurance, if applicable) from an employees taxable wages or salary. This amount (with the employers contribution, if applicable) is deposited with the revenue office usually within 14 days after collection.
(in the UK and South Africa) a system by which an employer deducts income tax from an employees wages before paying them to the employee and sends the deduction to the government.
How to use Pay as you earn (PAYE) in a sentence?
- A pay-as-you-earn scheme.
Meaning of Pay as you earn (PAYE) & Pay as you earn (PAYE) Definition