income tax personal allowance
- income tax personal allowance
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England, Wales
The amount of income a UK-resident individual can receive before being charged to income tax.
For details, see Tax data: income tax: Individuals: rates and allowances.
The personal allowance is only available to certain categories of individuals who are not resident in the UK.
Related terms
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
income tax — n: a tax on the net income of an individual or a business compare excise, property tax Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… … Universalium
personal allowance — The allowance to which every individual resident in the UK is entitled in calculating their taxable income for income tax. The allowance depends on the age of the taxpayer (see age allowance). For 2005–06 the personal allowance for those under 65 … Accounting dictionary
personal allowance — The allowance to which every individual resident in the UK is entitled in calculating their taxable income for income tax The allowance depends on the age of the taxpayer (see age allowance). For 2005 06 the personal allowance for those under 65… … Big dictionary of business and management
personal allowance — noun An amount, determined by the government, which is deducted from income before arriving at the taxable amount • • • Main Entry: ↑personal * * * personal allowance UK US noun [countable] [singular personal allowance … Useful english dictionary
personal allowance — personal al lowance n BrE the amount of money that you can earn each year before you must pay ↑income tax … Dictionary of contemporary English
Personal allowance — UK residents receive the first portion of their income free from tax. This is known as their personal allowance. Earnings above the personal allowance are taxable according to how much is earned.The personal allowance for the tax year 2005 06 for … Wikipedia
personal allowance — In the fiscal year 1998/99, this comes to £4,195. The first £4,195 of an individual s income is covered by the personal allowance and is not liable to income tax. Dresdner Kleinwort Wasserstein financial glossary * * * personal allowance personal … Financial and business terms
Income tax in India — The Indian Income Tax department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance.The government of India imposes an income tax on taxable income of individuals, Hindu … Wikipedia
Income tax in the Netherlands — In the Netherlands there is an income tax, which since 2001 ( Wet inkomstenbelasting 2001 ) is roughly as follows. The fiscal year is the calendar year. No later than March citizens have to report their income of the previous year. The system… … Wikipedia
