Tax Deductible Expenses

Guardianship Expenses
Guardianship expenses refer to the costs associated with services provided by a guardian for a minor. These expenses are often related to the care and management of the minor's personal and financial affairs, and may be tax-deductible in certain situations.
Tax Relief
Tax relief is a reduction in the amount of tax that an individual or corporation owes to the government, typically through various statutory provisions. In the UK, tax relief can be applied to income tax, capital gains tax, and inheritance tax through different mechanisms such as allowances, exemptions, and credits.
Taxable Income
A detailed explanation of taxable income, along with examples, related terms, frequently asked questions, online resources, and further reading materials.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.