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Taxionary

Employee

[ˌɛmplɔɪˈiː]

Term

Summary:

An Employee provides a business with their time and skills for payment in return. They usually have simple tax obligations.

More detail:

An Employee is an individual who works for a business or organisation in exchange for payment, usually in the form of a salary or a wage. Employees are a key part of any business and perform a various selection of roles.

Employees sign a contract with their employer that sets out their terms of employment. Employees are legally entitled to certain workplace benefits but have less flexibility than the Self-employed.

Some Employees may need to file a Self Assessment, but most have their Income Tax and National Insurance sorted through a system called Pay As You Earn (PAYE).

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