UK Accounting Glossary
Noun: the action of being abated or abating: subsiding or ending.
Law: the removal or reduction of a nuisance.
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.
1. Commerce: Reduction in the amount of a bill or charge such as de-murrage, 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 aftermath of natural disasters.
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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This glossary post was last updated: 27th January 2019.