Tax Dictionary of Terms and Jargon Explained.

To use this Tax Dictionary, simply click on a word to get an explanation of the term. Short, concise tax jargon explained clearly and to the point. Examples are used where appropriate. Listed are tax terms, jargon and words which have legal meaning and or are used in this sector. UK Tax Rates

 

DAN Tax Definition:- Deferment Approval Number - a unique reference number issued to a trader by the Central Deferment Office (part of HM Customs & Excise) to identify the trader's duty deferment account. © Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence. Deductible VAT Tax Definition:- Deductible VAT is the VAT payable on purchases of goods or services, intended for intermediate consumption, gross fixed capital formation or for resale, which a producer is permitted to deduct from their own VAT liability to the government in respect of VAT invoiced to their customers.. © Crown Copyright. Material taken from National Statistics website: www.statistics.gov.uk. Reproduced under the terms and conditions of the Click-Use Licence. Default Interest Tax Definition:- Interest HM Customs and Excise charge on VAT that has been underdeclared or overclaimed, from the time the amount due has been paid. © Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence. Default Surcharge Tax Definition:- A civil penalty used to encourage businesses to submit their VAT Returns and pay the tax due on time. If the VAT Return and all tax due are not received by the due date, a business is in default. Calculated as a percentage of the VAT unpaid by the due date. © Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence. Deferment Account Tax Definition:- An account underwritten by a bank or insurance company to which import duties due are posted. © Crown Copyright. Material taken from HM Revenue & Customs. Reproduced under the terms and conditions of the Click-Use Licence. Select a Page Previous<< 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Next>>

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