- W -  

Wear and Tear

An allowance that is tax deductible for the cost of furniture and fittings provided in dwelling houses which are let out furnished.

Widow

A woman who was married but whose husband has died.

Widow's Bereavement Allowance

The extra allowance a widow receives in the tax year of her husband's death, and the following tax year.

Widow's Pension

A pension you receive from the Department of Social Security following the death of your husband.

If your husband was employed, you might also be entitled to a widow's pension from his former employer.

Widowed Mother's Allowance

A pension you receive from the Department of Social Security following the death of your husband.

Widower

A man who was married but whose wife has died.

Withholding Tax

Foreign tax which is deducted in the foreign country when income is paid to you.

Work in Progress

Partially manufactured stock you have on hand, or partially completed work on contracts under which you provide your service.

Work Related Expenses

Expenses which you incur in carrying out your employment.

Working Families Tax Credit

A form of social security family income supplement, payable to families where one or more persons are in employment and have a PAYE code.

Writing Down Allowances

Capital allowances given against tax for the cost of certain fixed assets on a year by year basis.

May be replaced by first year allowances in the year the expenditure is incurred, and by a balancing allowance or balancing charge in the year the asset is sold.

Written Down Value

The cost of an asset, such as a car, after deducting amounts written off.

For tax purposes it is the cost less capital allowances given to date.

The expenditure on items of plant and machinery may be pooled to facilitate the calculation of capital allowances.

In this case the written down value will be the total of expenditure incurred, less any proceeds of sale, less any capital allowances given, and plus any balancing charges made.


AVVERTENZE D'UTILIZZO: Il presente glossario contiene una definizione dei termini più utilizzati in ambito fiscale e d'imposte nel Regno Unito.
La spiegazione di ciascuno dei termini indicati in questo glossario è di carattere meramente orientativo e priva di valore legale; si raccomanda, quindi, di tenere conto del contesto e dell'evento in cui essi vanno applicati, in quanto il significato loro attribuito potrebbe differire rispetto a quello qui rappresentato.

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