depreciation allowances
1depreciation — de·pre·ci·a·tion /di ˌprē shē ā shən/ n 1: any decrease in the value of property (as machinery) for the purpose of taxation that cannot be offset by current repairs and is carried on company books as a yearly charge amortizing the original cost… …
2Depreciation — Not to be confused with Deprecation. Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of assets to periods in which the assets are used… …
3capital allowances — For qualifying equipment (i.e. plant and machinery but also including a licence of computer software) a proportion of the capital cost can be used to relieve tax: the relevant amount is set against company revenue which would otherwise be taxable …
4capital allowances — The depreciation charged against profits when calculating taxable profits for corporation tax purposes, as opposed to the depreciation charge in a company s accounts. Accounting depreciation is not allowed as a deduction from profits in… …
5book depreciation — ➔ depreciation * * * book depreciation UK US noun [U] ACCOUNTING ► the reduction in value of an asset each year as recorded in a company s accounts, which may be different to its real reduction in value: »In later years, book depreciation might… …
6capital allowances — /ˌkæpɪt(ə)l ə laυənsɪz/ plural noun the allowances based on the value of fixed assets which may be deducted from a company’s profits and so reduce its tax liability COMMENT: Under current UK law, depreciation is not allowable for tax on profits,… …
7capital allowances — /ˌkæpɪtl ə laυənsɪz/ plural noun the allowances based on the value of fixed assets which may be deducted from a company’s profits and so reduce its tax liability COMMENT: Under current UK law, depreciation is not allowable for tax on profits,… …
8income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… …
9investment credit — or investment tax credit Tax incentive that permits companies or individuals to deduct a specified percentage of certain investment costs from their tax liability in addition to the normal allowances for depreciation. Investment credits are… …
10allowance — al‧low‧ance [əˈlaʊəns] noun 1. [countable] an amount of money that someone is given regularly or for a special reason: • She earns a package worth $1 million, including a $15,000 clothing allowance. ˌcost of ˈliving alˌlowance [countable] HUMAN… …
