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Tax relief-Tax allowance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Tax relief-Tax allowance

  • This topic has 2 replies, 2 voices, and was last updated 6 years ago by michaelsamiotis.
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  • April 2, 2019 at 10:02 pm #511070
    michaelsamiotis
    Participant
    • Topics: 47
    • Replies: 27
    • ☆☆

    Hello sir,
    I would like to ask what is the difference between tax relief and tax allowance. What is their difference? Thank you very much in advance.

    April 5, 2019 at 12:37 pm #511295
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    An allowance is something you get as a right – the PA, the AEA – whereas a relief is something the taxpayer usually has to claim – rollover relief, entrepreneurs relief, loss reliefs etc

    April 7, 2019 at 12:06 pm #511380
    michaelsamiotis
    Participant
    • Topics: 47
    • Replies: 27
    • ☆☆

    Thank you very much, sir.

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