Roll-over relief Tax otherwise payable on a gain on disposal of a business asset by deducting that gain from the cost price of a new business asset. It's actually not necessarily linked to earnings, but seeks to encourage longer term investment in building societies, National Savings, or in an employee's own company. SAYE schemes started after 1984 can be linked to an approved savings related share option and must run for at least 3 years. Monthly savings are limited to 250 in total. Tapering Relief A tapering relief from Capital Gains Tax for assets held by individuals and businesses.
Business assets have more generous rates of exemption.
The Inland Revenue allocates each person a code made up of both numbers and letters. Your code tells you how much you can earn before paying tax and lets your employer or pension provider know how much tax to deduct. The number in your code represents the level of pay at which you will start paying tax. The letter represents the type of tax allowance that you receive. The Inland Revenue periodically issue Statements of Account showing how much tax you owe or have overpaid.