Takeover

The acquisition of one business by another. This can be an agreed basis or a hostile basis.

Tax Relief

Certain payments can be deducted from an indivuals earnings to reduce the amount on which tax is paid. A typical example of this would be Pension Contributions which the Inland Revenue allows tax relief from.

Taxable Income

The amount of income earnt by an individual on which tax is payable. Typically it can be defined as Income less Reliefs less Allowances.