basic rate meaning

  "basic rate" in a sentence
noun [C] (BrE)

(Accounting ) basic rate (of tax/income tax)

the normal level of income tax, that most people or companies pay:

a cut of 2p in the basic rate of income tax

The current basic rate of company tax is 30% of taxable income.

The normal rate of UK income tax. This was previously called standard rate. In 2000-01 it was 22 per cent. This rate applies to all taxable non-saving incomes above a lower limit, below which a lower rate is payable, and below an upper limit, above which a higher rate is payable; the basic rate in fact applies to most UK taxable income.


More:   Next
  1. bri : basic rate isdn
  2. bri basic rate interference
  3. bri basic rate interface
  4. basic rate interface bri
  5. basic rate access bra

Related Words

  1. basic point defense missile system meaning
  2. basic price meaning
  3. basic principle meaning
  4. basic process meaning
  5. basic programming support meaning
  6. basic rate interface meaning
  7. basic rate of income tax meaning
  8. basic salary meaning
  9. basic salt meaning
  10. basic services meaning
PC Version