Year to date (YTD)
The running total of an amount, such as pay or tax, from the start of the tax year up to the current period.
Year-to-date figures let payroll see where an employee stands in the year, not only this month. Tax that is worked out cumulatively depends on them.
They are only as good as the history behind them. When a company moves to a new system, past months are brought in so that year-to-date totals are right from the first live run.
General information, not tax or legal advice.
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