UK Accounting Glossary
Noun: the action of being abated or abating: subsiding or ending.
Law: the removal or reduction of a nuisance.
1. The act of abating, or the state of being abated; a lessening, diminution, or reduction; a moderation; removal or putting an end to; the suppression of.
2. The amount abated; that which is taken away by way of reduction; deduction; decrease; a rebate or discount allowed; in particular from a tax.
3. heraldry A mark of dishonour on an escutcheon; any figure added to the coat of arms tending to lower the dignity or station of the bearer.
1. Commerce: Reduction in the amount of a bill or charge such as demurrage, overtime penalty, or rent.
2. Environment: Elimination or reduction of polluting or hazardous substances (such as asbestos) by either removing them completely or lessening their effect through better waste management.
3. Legal: Suspension of a court action, or bringing it to a close before the final decision.
4. Taxation: Rebate given in levies or taxes under special circumstances, such as in the aftermath of natural disasters.
To reduce the intensity, amount or degree of a given activity.
Abatement is also used to describe the reduction of the emission of pollutants in environmental economics.
Technical abatement is a term used when referring to measures which involve production activities of businesses, for example, an introduction of a new, or an amendment to an existing process or technology.
Behavioural abatement is the changing of behaviours of consumers, or the changing of lifestyles in the customers.
The question of the amount of individual incomes only comes before the authorities when claims for exemption and abatement are made.
The investor was able to secure a tax abatement for the grade 2 listed building, in exchange for promising to create affordable housing for disadvantaged members of the local community.
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Definitions for Abatement are sourced/syndicated from:
This glossary post was last updated: 27th January 2019.