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Glossary

• Accounting Records
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• VAT - Overview
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• VAT - Schemes
• Year End

PAYE

PAYE (Pay as you earn) is a system of collecting income tax and national insurance from your wages, salary or occupational pension. This means that such amounts are received net of tax.

If you are an employer you will need a suitable payroll system that can calculate any income tax and national insurance due on your employees wages and salaries.

There are many returns which have to be filed by an employer. So if this is an area that you are not familiar with, it is strongly recommended that you get expertise advice or attend a course on the subject.

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