Define: Deductible

UK Accounting Glossary

Definition: Deductible


Quick Summary of Deductible


Purchases that are claimed as business expenses are described as deductible; they reduce business profits but reduce the amount of income tax owed.



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To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/deductible/
Modern Language Association (MLA):
Deductible. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 17, 2019 https://payrollheaven.com/define/deductible/.
Chicago Manual of Style (CMS):
Deductible. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/deductible/ (accessed: July 17, 2019).
American Psychological Association (APA):
Deductible. PayrollHeaven.com. Retrieved July 17, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/deductible/

Definition Sources


Definitions for Deductible are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th December 2018.