pay and file
- pay and file ˌpay and ˈfile noun [singular]TAX ACCOUNTING a system used in Britain since 1993 for paying corporation tax (= a tax paid by companies on their profits). The company calculates how much tax it owes and pays that amount when it sends the tax forms to HM Revenue and Customs (= the tax authority), where the calculations are checked
* * *Pay and File UK US noun [U] TAX► a system for paying tax in the UK in which people and companies calculate the amount of tax they owe to the tax authority, who then check that the amounts are correct: »
Pay and File applies to all self-assessment taxpayers.
Financial and business terms. 2012.
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