Deductions and Default surcharge: Difference between pages

Revision as of 14:19, 23 October 2012

UK Tax. A penalty levied on a taxable person for late delivery of a Return and or late payment of VAT.

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-#Amount of money subtracted from an account or from any amount payable/receivable, to pay for services, goods or taxes.
+''UK Tax''.
-#''Tax.'' Amounts for which tax relief is given.  Most often by subtracting the deductions from (otherwise) taxable profits, before calculating the amount of tax payable on the net taxable profits.
+A penalty levied on a taxable person for late delivery of a Return and or late payment of VAT.
 == See also ==
-* [[Tax credit]]
+* [[Taxable person]]
-* [[Tax relief]]
+* [[VAT]]
-[[Category:Accounting,_tax_and_regulation]]