pay-as-you-earn tax
31income tax — IT A direct tax on an individual s income. In general, individuals can earn income without paying tax up to a threshold, with subsequent income giving rise to tax liabilities, usually at increasing rates as income increases ( progressive… …
32income tax code — A code number issued by the Board of Inland Revenue that takes account of the personal allowance available to the taxpayer together with any other additional allowances to which he or she is entitled, e.g. married couple s allowance. The code is… …
33deduction of tax at source — the process whereby the payer of, e.g. interest, deducts income tax at the basic rate from the payment and accounts for it to the Inland Revenue. It can be compared with the system of Pay As You Earn (PAY E), whereby employers are required to… …
34emergency tax code — An income tax code issued by the Inland Revenue in the event of an employee not having the correct code available for the employer to apply to earnings under pay as you earn. The code gives the basic personal allowance, but does not allow for any …
35Tax protester constitutional arguments — UStaxationTax protester constitutional arguments are assertions that the imposition of the federal income tax violates the United States Constitution. These kinds of tax protester arguments are distinguished from related statutory arguments and… …
36pay — {{Roman}}I.{{/Roman}} noun ADJECTIVE ▪ hourly, monthly, weekly ▪ full, half (both esp. BrE) ▪ He has taken leave on half pay. ▪ …
37Regressive tax — A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. [ [http://www.merriam webster.com/dictionary/Regressive Webster] (3): decreasing in rate as the base increases (a… …
38take-home pay — noun what is left of your pay after deductions for taxes and dues and insurance etc • Hypernyms: ↑wage, ↑pay, ↑earnings, ↑remuneration, ↑salary * * * noun also take home ˈ ̷ ̷ˌ ̷ ̷ …
39income tax — noun a personal tax levied on annual income (Freq. 4) • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement • Hyponyms: ↑bracket creep, ↑estimated tax, ↑FICA, ↑ …
40take-home pay — ➔ pay1 * * * take home pay UK US noun [U] ( also take home, also take home income) ► HR, WORKPLACE the amount of money that you earn each month after tax, etc. has been taken away: »Non mortgage debt payments shouldn t exceed 10 to 15% of m …
