Inland Revenue

Emergency Tax Code
An income tax code issued by tax authorities when the correct tax code for an employee is unavailable, ensuring basic personal allowance application but excluding further allowances until proper code assignment.
Precept
A command issued by the Commissioners of Inland Revenue to a taxpayer to produce specific documents, usually by a designated date.

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.