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Pay As You Earn (Noun)

Meaning

The British system of withholding tax.

Classification

Nouns denoting possession and transfer of possession.

Examples

  • The company was required to deduct income tax from employees' wages under the pay as you earn system.
  • She had to pay a large amount of taxes due to the pay as you earn scheme used by her employer.
  • All UK employers must operate a pay as you earn system to withhold income tax from their workers.
  • The accountant explained that the pay as you earn system was a flexible way of paying taxes on a monthly basis.
  • Her net salary was lower due to the pay as you earn tax deductions made by her employer.

Synonyms

  • PAYE

Hypernyms

  • Withholding Tax
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