PAYE

PAYE stands for "Pay As You Earn" and refers to a system of income tax collection used in several countries, including the United Kingdom.

In the PAYE system, employers deduct income tax and National Insurance contributions from their employees' wages or salaries before paying them. This ensures that tax is collected regularly throughout the year, rather than in a lump sum at the end of the tax year. PAYE helps to simplify the tax collection process for both employees and the tax authorities, ensuring that individuals pay the correct amount of tax based on their earnings and personal allowances.

Accurate employee attendance data is crucial for generating precise payroll reports. AceRota ensures that attendance records are up-to-date and precise to promotes transparency and efficiency in your payroll processes.