ACTS Financial Glossary

What is it? Advanced Communications Technologies and Services (FP4 Program)

Finance Term Definition Added By: Jessica

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Other Similar Finance Terms:

Financial Term Master lease is A contractual arrangement which allows you to lease other assets under the same basic terms and conditions without negotiating a new contract.

Financial Term Federal PLUS Loan (FPLUS) is Long-term loans made available to parents of dependent students. Interest rates but may not exceed 9%. May be used to replace EFC; annual amount borrowed limited to the cost of attendance minus estimated financial assistance.

Financial Term MIRAS is Stands for Mortgage Interest Relief at Source. This is the way in which tax relief was allowed on mortgage payments. The withdrawal of Miras was announced in the budget, 9th March 1999, by the Chancellor and took effect from April 2000.

Financial Term Personal allowance is The amount of income that can be earned before the individual becomes liable to income tax. Personal allowances are set each year by the Chancellor in his annual budget.

Financial Term Voluntary Scheme is A pension or other benefit scheme in which the members choose the extent and levels of benefits provided.