What does Allowances mean?

Allowances meaning in Finance Dictionary

Tax allowances are concessions by HM income & Customs, that can easily be always lower an individual's nonexempt earnings. The key allowance for UK taxpayers could be the 'personal allowance', that is some earnings that is tax free. When you look at the tax year 2006-2007 the private allowances are #5,035 for people under 65, increasing to a higher figure at the chronilogical age of 65 and once more at 75. Other allowances range from the wedded few's Allowance (available to partners in which anyone is 65 or higher) therefore the Blind individuals Allowance.

Sentence Examples with the word Allowances

Those under the latter body are of recent growth, the policy of the last twenty years of the 19th century having been to hand over the budget allowances for primary instruction to the Holy Synod, which opened parish schools under the local priests.

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