APT Finance
Business efficiency is a matter of revenues versus costs: leasing equipment in this context makes a lot of sense. Talk to APT about flexible financing such as hire purchase, lease purchase or any other type of finance plan to suit your requirements... Email Us
Site Map Frequently Asked Questions Login
Home Services Guide Finance Plans Enquiries
Site Map
About Us
Why Apt?
Our Approach
Service Pledge
Our Philosophy

Finance Plans
User Guide
Supplier Guide
Dealer Login

Enquiry Form
Dealer Form
Mailing List
Our Location
E-Mail Us

Dictionary of Financial Terms - N

National Insurance
A form of taxation which you pay as you earn, used to fund certain state benefits.

National Insurance Contributions
An additional form of "tax" paid by most employers, employees and self-employed people. The money collected is (broadly) used to pay for social security benefits.

Class 1 Contributions are paid by employers and by employees with earnings above the lower limit.

Class 2 Contributions are paid by the self-employed at a weekly flat rate.

Class 3 Contributions are voluntary and are paid by those who do not earn enough to require Class 1 or Class 2 contributions to be made.

Class 4 Contributions are paid by the self-employed.

National Savings
The Department of National Savings is part of the Treasury and sells investment, savings and deposit products to raise extra finance for the government. The products are designed as medium to long-term vehicles and are sold "over the counter" at post offices.

Interest received from a bank or building society account after basic rate tax has been deducted. If you're a higher rate taxpayer, you will have to pay more tax.

Net Income
Income distributions are paid with a 20% tax credit. If you are liable to lower rate or basic rate income tax, you will have no further liability to tax. If you are a higher-rate taxpayer, you will have an additional income tax liability. If you are a non-taxpayer, you may be able to use the tax voucher supplied at the time of the distribution to support a tax repayment claim. Wherever you see a gross income figure quoted, it means that no tax has been deducted (e.g. as with a PEP investment).

Net Relevant Earnings
A definition of 'pensionable income' used in determining the maximum contributions to a retirement annuity or personal pension scheme that qualify for tax relief.

Insurance cover for property or equipment where an item lost or destroyed is replaced by the equivalent new item without deduction for age or wear and tear of the old item and regardless of price inflation.

No Extended Tie In
This means that at the end of your fixed, capped or discounted rate period, you will not have to pay an early redemption charge if you pay off your mortgage early.

A contract that the insured has the right to continue in force so longs as premiums are paid. The insurer cannot make changes to or revoke the insurance during this time.

A term applied to employee benefit plans or insurance schemes when the employer pays the full cost and the employee is not asked to contribute.

Non-profit - Nonprofit
(Also Not for profit and sometimes Charitable). A term describing the Inland Revenue (in Britain) and the Internal Revenue Service (in the US) designations of an organisation whose income is not used for the benefit or private gain of stockholders, directors, or any other persons with an interest in the company. A nonprofit organisation's income must be used solely to support its operations and stated purpose.

Normal Retirement Age
The age at which an employee holding a particular position normally retires from service.

Normal Retirement Date
The normal date of retirement applicable to a member of an occupational pension scheme and specified in the rules of the scheme.

| BACK |

| Home | Site Map | About Us | Services Guide | Finance Plans | FAQ | User Guide |

| Why APT? | Our Approach | Business Partner Application | Enquiries | Email Us |

© APT Finance. All Rights Reserved
| Legal Disclaimer |

Designed by Dynamic Webs...