PAYE

Paye is also an archaic term for caulking. PAYE (pay-as-you-earn) is an amount collected by employers when making salary or wage payments to employees on behalf of the taxation authority. The amount deducted paid to the tax authority and is, in effect, a provisional payment of tax on the employee's income. The amount withheld is determined by tax tables that determine the amount of tax to be deducted for the salary or wage paid to the employee. Individual countries may apply this principle differently in order to streamline the administration process - the tax code in the UK is an example of such a variation. In some countries, the PAYE system is also used to collect national insurance or medical insurance contributions.
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Noun
1. the British system of withholding tax
(synonym) pay as you earn
(hypernym) withholding tax, withholding

adj. paid

n. pay, wage, payroll

v. pay, pay down; defray, pay off

n. peasant, farmer, agriculturalist; rustic, person who lives in a rural area

v. improvise folksongs (South America)

n. States