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Business terms and jargon
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Age ReliefThis is an allowance that is given when you reach a certain age. This allowance usually retirement age gives an additional allowance or increases their personal tax allowance. This means that they can earn more before they have to pay tax. If their earnings are over the tax allownace then they will have to pay tax on the amount over the allowance. This overall redues thier tax liability.
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Term created / updated 2006-05-20 07:39:21
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