Glossary

A

• Abatement
• Accountant
• Accounting Software
• Additional Tax Rate
• Annual Investment Allownce
• Auto Enrollment
• Accounting Reference Date
• Accounting Period
• Allowances
• Age Related Allowances
• Anti Avoidance
• Appeals
• Approved Mileage Allowance
• Agent
• At Source

B

• BACs Payment
• Balancing Charge
• Balancing Payment
• Basic Tax Rate
• Basis Period
• Benefit in Kind
• Bereavement Allowance
• Bitcoin
• Blind Person’s Allowance
• Bonds
• BookKeeping
• Brought Forward
• Business Rates
• Bare Trust
• Basis Of Accounting (Accrual)
• Basis Of Accounting (Cash)
• Beneficial Loans
• Benefits (employment)
• Beneficiary
• Business Income
• Business Expense
• Business Asset Disposal Relief
• Business Property Relief (BPR)
• Buy to Let

C

• Capital Allownces
• Capital Gains Tax
• Capital Gains Tax Calculator
• Capital Losses
• Cash Equivalent
• Casual Earnings
• Chargeable Assets
• Chargeable Event Gains
• Charitable Gifts Relief
• Child Benefit
• CIS4
• Class 1 National Insurance
• Class 2 National Insurance
• Class 3 National Insurance
• Class 4 National Insurance
• CEST Status Tool
• Civil Partnership
• Code of Practice
• Close Company
• Commonwealth Citizen
• Company Car
• Company Director
• Company Share Option Plan
• Company Residence
• Community Investment Tax Relief
• Connected Company
• Construction Industry Scheme
• Cash Basis
• Convertible securities
• Corporation Tax
• Corporate Interest Restriction
• Council tax
• Contractor
• Cryptocurrency
• CWF1

D

• DAC6
• Declaration of Trust
• Direct Debit Payment
• De Minimis
• Deficiency Relief
• Disallowable Expenses
• Discounted Securities
• Discretionary Trusts
• Disguised Remuneration
• Diverted Profits Tax
• Dividend
• Dividend Allowance
• Domicile
• Double Taxation Agreement
• Dual Resident

E

• Earned Income
• Emergency Tax
• Employee Profit Sharing
• Employee Stock Options
• Employment Status
• Enterprise Management Incentive
• Entrepreneurs’ Relief
• Environmental Tax
• Equity Crowdfunding
• ETI Scheme
• Expatriate
• Exchange of Information
• Exempt Income

F

• Failure to Correct
• Fair Market Value
• First Year Allowances
• Financial Year
• Flat Rate Expenses
• Foreign Income
• Foreign Earnings Deduction
• Foreign Tax Credit Relief
• Form 64-8
• Fruit and Tree Doctrine
• Furnished Holiday Lettings
• Furnished Lettings
• FUT tax

G

• General Partnership
• General Anti Abuse Rule
• Gift Aid
• Golden Handcuff
• Golden Handshake
• Goverment Gateway
• Guernsey Tax
• Guarantor

H

• HCPC
• Habitual Abode
• High Income Child Benefit Charge
• Higher Rate Tax
• HMRC Online Services
• HMRC Property Income Allowance
• Holding Company
• Home Equity Release
• Home Office Allowance
• Homeworker Employee

I

• Incentive Stock Option
• Income Tax
• Income Tax Calculator
• Incorporation Relief
• Individual Residence
• Inheritance Tax (IHT)
• Inheritance Tax (IHT) Allowance
• Investment Income
• IPDI (Immediate post-death interest)
• ISA (Individual Savings Account)
• IR35

J

• Jobseeker’s Allowance (JSA)
• Joint Tenancy
• Joint Return
• Jurisdiction

K

• K Codes
• Know How

L

• Landlord
• Late Filing Penalty
• Late Payment Penalty
• Limited Company
• Live in Landlord
• Limited Liability Partnership
• Liechtenstein Disclosure Facility
• Loan Charge
• Loan Relationships

M

• Making Tax Digital
• Managed Service Companies
• Managing Deliberate Defaulters
• Marginal Tax Rate
• Marriage Allowance
• Married Couples’ Allowance
• Maternity Allowance
• Mileage Allowance
• Minimum Wage
• Money Laundering
• Mortgage Interest
• Mortgage Interest Restriction

N

• National Insurance
• National Insurance Calculator
• Nationality Principle
• Non-Domiciled
• Non Residence
• Non Resident Landlord Scheme
• Non Resident Capital Gains Tax
• Notice of Assessment
• NRL6

O

• Off Payroll Working
• Offshore account
• Offshore Non Compliance
• Option to Tax
• Output Tax
• Overpayment Relief

P

• P11D
• P45
• P60
• P87 Claim Form
• Partnership
• PAYE
• Patent Box
• Payment on Account
• Pension Allowances
• Personal Annual Allowance
• Personal Tax Account
• Private Residence Relief
• Property Income

R

• Redundancy Pay
• Real Time Capital Gains Tax Service
• Resonable Excuse
• Research & Development Relief
• Residence Nil Rate Band (RNRB)
• Relief at Source
• Remittance Basis
• Rent a Room Scheme
• Requirment to Correct
• Resident Landlord
• Reverse Charge
• Rollover Relief

S

• SA1
• SA100
• SA102
• SA103
• SA104
• SA105
• SA106
• SA107
• SA108
• SA109
• SA302
• SA370
• Seafarer’s Earnings Deduction
• Seed Enterprise Incentive Scheme (SEIS)
• SEISS
• Self Assessment
• Self Employed (UK)
• Share Incentive Plan (SIP)
• Simplified Expenses
• Social Investment Tax Relief
• Social security benefits
• Sole Trader
• Source Based Taxation
• Stamp Duty Land Tax
• Stamp Duty Reserve Tax
• State Pension
• Statutory Resident Test Definations
• Student Loan Deductions
• Subcontractor
• Substantial Shareholding Exemption (SSE)

T

• Tax Agent
• Tax Allowance
• Tax Avoidance
• Tax Code
• Tax Deduction
• Tax Evasion
• Tax Rates 2021/22
• Tax Rates 2022/23
• Taxable Income
• Tenancy in Common
• Termination Payments
• Transactions in Securities (TiS)
• Transfer Pricing
• Tronc
• Trust Fund
• TWDV (Tax written down value)

U

• UTR
• Umbrella Company
• Underlying Tax
• Universal Credit

V

• VAT
• VAT Exemptions
• Venture Capital Trust
• Vulnerable Persons Trust

W

• Wear and Tear Allowance
• Welsh rates of Income Tax
• Workplace pension
• Withholding Tax