Credit relief: Difference between revisions
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imported>Doug Williamson (Add definition 2. relating to UK personal tax credits. Source: http://www.hmrc.gov.uk/forms/tc825.pdf) |
imported>Doug Williamson (Add link.) |
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''Tax''. | 1. ''Tax''. | ||
A valuable type of tax relief given by deducting the amount of the credit directly from the amount of a tax liability. | A valuable type of tax relief given by deducting the amount of the credit directly from the amount of a tax liability. | ||
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2. ''UK personal tax''. | |||
''UK personal tax''. | |||
Relief for business trading losses, pension contributions and certain other payments for the purposes of calculating UK personal tax credits. | Relief for business trading losses, pension contributions and certain other payments for the purposes of calculating UK personal tax credits. | ||
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== See also == | == See also == | ||
* [[Credit]] | |||
* [[Expense relief]] | * [[Expense relief]] | ||
* [[Relief]] | |||
* [[Tax credit]] | * [[Tax credit]] | ||
* [[Tax relief]] | * [[Tax relief]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 00:28, 7 July 2022
1. Tax.
A valuable type of tax relief given by deducting the amount of the credit directly from the amount of a tax liability.
For example, the deduction of an amount of foreign tax already paid, to directly reduce the amount of a domestic tax liability.
2. UK personal tax.
Relief for business trading losses, pension contributions and certain other payments for the purposes of calculating UK personal tax credits.
