Difference between revisions of "Credit relief"

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(Expand for clarity.)
(Add definition 2. relating to UK personal tax credits. Source: http://www.hmrc.gov.uk/forms/tc825.pdf)
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''Tax''.  
 
''Tax''.  
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'''1.'''
  
 
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.
  
 
For example, the deduction of an amount of foreign tax already paid, to directly reduce the amount of a domestic tax liability.
 
For example, the deduction of an amount of foreign tax already paid, to directly reduce the amount of a domestic tax liability.
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'''2.'''
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''UK personal tax''.
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Relief for business trading losses, pension contributions and certain other payments for the purposes of calculating UK personal tax credits.
  
  
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* [[Tax relief]]
 
* [[Tax relief]]
  
[[Category:Taxation]]
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[[Category:Accounting,_tax_and_regulation]]

Revision as of 13:39, 30 October 2013

Tax.

1.

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