Incapacity Benefit: A state benefit payable after the expiry of state sickness benefit if a person is still unfit to work. This replaces the former invalidity benefit and as such carries a reduced level of benefit.IncomeMoney received by an individual as a salary, or from investments. Cash deposits and bonds will provide income in the form of interest. This income is subject to income tax.Income from propertyIncome received from property letting is subject to income tax. The amount taxable is the amount receivable in the tax year. If an owner, occupier or tenant rents out a room he may receive up to a certain annual income without incurring a tax liability.

 

Related Words

Incapacity Benefit: A state benefit payable after the expiry of state sickness benefit if a person is still unfit to work. This replaces the former invalidity benefit and as such carries a reduced level of bene . . . View Full Definition

Minimum Monthly Benefit: There is usually a minimum amount paid as a monthly benefit after reductions for 'Other Income Benefits'.

Maximum Monthly Benefit: This is the highest dollar amount an employee with a disability can receive on a monthly basis under the Long Term Disability plan.

Net Benefit To Leverage Factor: A linear approximation of a number, that enables one to operationalize the total impact of leverage on firm value in the capital market imperfections view of capital structure.