PAYE
Government & Politics abbreviation · UK Government
| Stands for | Pay As You Earn |
|---|---|
| Categories | Government & Politics |
PAYE stands for Pay As You Earn, a UK government abbreviation also used in business.
HMRC system through which employers deduct income tax and National Insurance from employees' wages and pensions before paying them, using a tax code that reflects each person's allowances.
Example: Check the PAYE tax code on your payslip; 1257L is the standard code.
Usage notes
PAYE was introduced in 1944. Since 2013 employers report pay to HMRC in real time each time they pay staff. The standard code 1257L reflects the personal allowance of 12,570 pounds. In US student loans, PAYE means the Pay As You Earn repayment plan.
Related abbreviations
More UK government abbreviations
- Ofcom – Office of Communications
- Ofgem – Office of Gas and Electricity Markets
- Ofqual – Office of Qualifications and Examinations Regulation
- Ofsted – Office for Standards in Education, Children's Services and Skills
- Ofwat – Water Services Regulation Authority
- ONS – Office for National Statistics
- PC – Plaid Cymru
- PIP – Personal Independence Payment
- PM – Prime Minister
- PMQs – Prime Minister's Questions
- PPS – Parliamentary Private Secretary
- PRA – Prudential Regulation Authority