Tax Glossary
Welcome to the TWD Accountants Tax Glossary. To help you interpret the jargon that you can come across in dealing with your tax, our team of experts have written a brief explanation for hundreds of technical terms. Click on a letter to show entries.
Married Couple`s Allowance
Since 6th April 2000 this allowance is only available if either spouse was born before 6 April 1935. Also see age related allowances.
Since 6th April 2000 this allowance is only available if either spouse was born before 6 April 1935. Also see age related allowances.
Mileage expenses
See Approved Mileage Rates
See Approved Mileage Rates
Minimum Wage
The National Minimum Wage rates are as follows:
Apprentice Rate (apprentices under 19 or over 19 and in the first year)
1st October 2010 £2.50ph
1st October 2011 £2.60ph
16-17 years from:
1st October 2010 £3.64ph
1st October 2011 £3.68ph
18-20 years from:
1st October 2010 £4.92ph
1st October 2011 £4.98ph
21 and over from:
1st October 2010 £5.93ph
1st October 2011 £6.08ph
Money Laundering
New Money Laundering Regulations apply to most businesses in the financial sector and came into force on 1 March 2004. By law these businesses are now required to establish the identity and address of any new clients
New Money Laundering Regulations apply to most businesses in the financial sector and came into force on 1 March 2004. By law these businesses are now required to establish the identity and address of any new clients
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