= (PAYE)

The UK system of collection of income tax on earned incomes at source. Employers are required by law to deduct personal income tax and National Insurance contributions from their employees' earnings at the time of payment, and forward the tax collected to the Inland Revenue. This improves the speed and reliability of the government's income tax revenue. As employers are required to apply tax codings taking account of allowances, which are different for each employee, the PAYE system imposes a considerable administrative burden on employers.

• multiple equilibrium
• multiple exchange rates
• multiple regression
• multiplier
• multiplier-accelerator model
• multi-product firm
• mutual fund
• NAFTA
• NAIRU
• name
• name at Lloyd's
• narrow-band ERM
• NASDAQ
• Nash equilibrium
• national accounts
• National Association of Securities Dealers Automated Quotation System
• National Bureau of Economic Research
• national debt
• National Economic Development Council
• National Health Service
• national income
• national income accounts
• National Institute of Economic and Social Research
• National Insurance contributions
• nationalization