Glossary

Payroll - list of employees receiving wages or salaries, with the amounts due to each, or total sum of money to be paid out to employees at a given time, both stating the deduction of taxes and National Insurance contribution.

Payroll service - a service that automates (and outsources) the regular payment of wages and salaries to and the deduction of taxes and national insurance contributions from a company's employees

Accounting - A term used to describe the methods used to record business financial information , including costs and expenses such as payroll (salaries and wages)

Accounting service - A service who keeps or inspects a business 's accounts

PAYE - (Pay As You Earn) The Inland Revenue description for the process used to deduct tax and national insurance at source (i.e. by the employer).

Pay as you earn - The Inland Revenue description for the process used to deduct tax and national insurance at source (i.e. by the employer).

Year end tax - The submission of the statutory returns P35, and P60 to the Inland Revenue and employees after the 5th April each year

Paying staff - The paying of wages and salaries and deduction of tax and national insurance from those who work for you each month or week.

Paying employees - The paying of wages and salaries and deduction of tax and national insurance from those who work for you each month or week.

Sage - Software for bookeeping and payroll

Pegasus - Software for bookeeping and payroll

TAS - Software for bookeeping and payroll

DOSH, DO$H - Software for bookkeeping and payroll

Quicken - Software for bookeeping and payroll

Manual Tax Tables - Table provided by The Inland Revenue to calculate a payroll and tax deductions without the aid of software