An A to Z of Tax from...
Tax Glossary
Welcome to the Taxbuddies glossary. To help you interpret the jargon
that you can come across in dealing with your tax, our team of experts
have written a brief explanation for hundreds of technical terms. Click
on a letter to show entries.
| General Commissioners : | These are local persons appointed on a voluntary basis by the Lord Chancellor. | |
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| Gift Aid : | The Gift Aid scheme covers both single donations and a series of donations including covenanted payments to charitable organisations. There is no minimum limit for gift aid payments. See Charitable Gifts Relief. | |
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| Golden Handcuff : | A 'golden handcuff' also known as a 'golden hello' is a term used for a lump sum payment received on taking up an employment. It is normally taxed as advanced pay for future services unless it represents compensation for loss of some right or asset on taking up the employment. You should seek professional advise if you think a payment you are about to receive is in this category. | |
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| Golden Handshake : | This is the term used for a lump sum payment received when you leave an employment. The important factor in determining whether it is taxable as employment income, is if it is a payment for services or because the job no longer exists. | |
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