Credit relief and Fixed assets: Difference between pages

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''Tax''.  
Assets which are held by an entity to be used in its operations.


1.
They are held for longer periods than current assets, being used by the entity for a number of years.
 
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.




== See also ==
== See also ==
* [[Credit]]
* [[Capital expenditure]]
* [[Expense relief]]
* [[Capitalisation]]
* [[Tax credit]]
* [[Capitalise]]
* [[Tax relief]]
* [[Current assets]]
 
* [[FRS 11]]
[[Category:Accounting,_tax_and_regulation]]
* [[FRS 15]]
* [[Impairment]]
* [[Useful economic life]]

Revision as of 14:05, 27 August 2013

Assets which are held by an entity to be used in its operations.

They are held for longer periods than current assets, being used by the entity for a number of years.


See also