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.



What is the dictionary definition of Deductible?

Dictionary Definition


U.S., insurance Amount of expenses that must be paid out of pocket before an insurer will pay any expenses.


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Synonyms For Deductible


deduction, set off against, relief, allowance, openness

Deductible FAQ's



Cite Term


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. January 22, 2020 https://payrollheaven.com/define/deductible/.
Chicago Manual of Style (CMS):
Deductible. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/deductible/ (accessed: January 22, 2020).
American Psychological Association (APA):
Deductible. PayrollHeaven.com. Retrieved January 22, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/deductible/

Definition Sources


Definitions for Deductible are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

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