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Home > QFINANCE Dictionary > Definition of tax allowance

Definition of

tax allowance

Tax

portion of UK income not taxed in the United Kingdom, a part of somebody's income that is not taxed. There are different reasons for receiving a tax allowance and they vary according to age and personal circumstances.

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Definitions of ’tax allowance’ and meaning of ’tax allowance’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’tax allowance’ and other financial terms with our online QFINANCE Financial Dictionary.

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