The PAYE system and PAYE tables are worked out based on 52 weeks or 26 fortnights occurring in a tax year. However, each year a number of employees receive 53 or 27 pay days within the tax year because of the day on which their wages are paid.
This often results in PAYE and/or student loan repayment shortfalls. Where the employee has an entitlement to Working for Families Tax Credits this may also be overpaid if their family income has been underestimated.
Summaries of earnings began going out to your employees in May 2015 and this may cause an increase in questions from your employees.
This often results in PAYE and/or student loan repayment shortfalls. Where the employee has an entitlement to Working for Families Tax Credits this may also be overpaid if their family income has been underestimated.
Summaries of earnings began going out to your employees in May 2015 and this may cause an increase in questions from your employees.
