Payroll Services Glossary
PAYE -Pay As You Earn is a standard payment method
required by the UK government that covers any tax payments
made to the Inland Revenue from individuals, organisations
and companies as well as payments made between any of the
aforementioned counterparties.
BACS - Bankers' Automated Clearing Services is
a computerised system which can be used to transfer funds
electronically between different bank accounts
