allowance
noun [ C ]
uk/əˈlaʊəns/ usmoney that someone is given regularly by their employer or by the government to pay for a particular thing:
an accommodation/car/mileage allowance
an allowance for sth/to do sth Some companies will even give their telecommuting executives an allowance to buy office furniture for their home.
Employees relocating to London receive a maximum allowance of £1000 a year.
an amount of something that someone is allowed to have, use, produce, etc.:
baggage/luggage allowance Baggage allowance is 2 free bags per passenger, and $80 per additional bag.
In Europe nearly all of the valuable emission allowances - permits that each allow one ton of emissions - were given away to power companies.
TAX
an amount of goods that you are allowed to buy and take into another country before you have to start paying tax:
The Australian Customs Service will not charge you duty or tax on goods you bring in if they are within the duty-free allowance guidelines.
TAX mainly UK
an amount of money that can be taken off your income before the tax owed is calculated:
a tax allowance
a personal/married couple's/single person's allowance
an annual allowance
ACCOUNTING, TAX
an amount of money that can be taken off a company's profits before the tax owed is calculated:
The purchaser of assets can claim allowances on certain items such as plant and machinery.
the fact of planning or paying now for a possible future change in a situation or a possible future cost, or the amount that is planned for:
make an allowance for sth It is unlikely that the regulator will make any allowance for falls in customer service caused by a strike.
They made a 10% allowance for bad debt.
The company will extend existing health-plan contracts and their pricing for eight years, with allowances for inflation.
Compare
provision noun
COMMERCE
a special arrangement, such as a lower price, that manufacturers offer to stores which are going to sell their products:
When selling a new product, manufacturers sometimes give retailers an allowance, for example a sale or return agreement.
See also
capital allowance
cost of living allowance
display allowance
entertainment allowance
hardship allowance
investment allowance
Jobseeker's Allowance
loan-loss allowance
personal allowance
subsidiary noun
subsistence allowance
writing-down allowance