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Business Dictionary :
Allow, Allowable and Allowance
Allow, Allowable and Allowance
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Allow : verb :
(a) to say that someone can do something
• Junior members of staff are not allowed to use the chairman's lift.
• The company allows all members of staff to take six days' holiday at Christmas.
(b) to give, to allow someone a discount
• To allow 5% discount to members of staff
• To allow 10% interest on large sums of money
(c) to agree or to accept legally
• To allow a claim or an appeal
Allow For : verb : to give a discount for or to add an extra sum to cover something
• To allow for money paid in advance
• To allow 10% for packing
• Delivery is not allowed for = delivery charges are not included
• Allow 28 days for delivery = calculate that delivery will take at least 28 days
Allowable : adjective : legally accepted
Allowable Expenses = expenses which can be claimed against tax
Allowance : noun
(a) money which is given for a special reason
• Travel allowance or travelling allowance
• Foreign currency allowance
• Cost-of-living allowance = addition to normal salary to cover the increases in the cost of living
• Entertainment allowance = money which a manager is allowed to spend each month on meals with visitors
(b) part of an income which is not taxed
• Allowances against tax or tax allowances
• Personal allowances
• Wife’s earned income allowance = tax allowance to be set against money earned by the wife of the main taxpayer
(c) money removed in the form of a discount
• Allowance for depreciation
• Allowance for exchange loss
Allowed Time : noun : paid time which the management agrees a worker can spend on rest or cleaning or meals, not working
QUOTE : Most airlines give business class the same baggage allowance as first class. (Business Traveller)
QUOTE : The compensation plan includes base incentive and car allowance totalling $50,000. (Globe and Mail - Toronto)