Additional security fee

 

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Additional security fee

An up-front, one-off fee paid to the lender to protect against the borrower defaulting on the loan. This is usually charged on mortgages of more than 75% of the property value. Also known as Indemnity Guarantee Premium and Mortgage Indemnity Premium.



Additional security fee

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Additional bonds test

Additional bonds test

A test for ensuring that bond issuers can meet the debt service requirements of issuing any new additional bonds.


Additional voluntary contributions

Additional voluntary contributions

Additional payments to a tax deferred savings account or an occupational pension scheme by an employee to boost a pension at retirement.


Additional rate tax

Additional rate tax

A term which applies to trusts without an interest in possession (for example a discretionary trust) and defines the additional rate of tax on income.


Additional personal allowance

Additional personal allowance

An income tax allowance to single people including widows/widowers, separated spouses etc who are not entitled to the married couple's allowance and are supporting a child under the age of 16 at their own expense. This allowance also applies where a man's wife is living with him and she is totally incapacitated and they have a child living with them.


Free standing additional voluntary contributions

Free standing additional voluntary contributions

An employee's pension scheme which is additional to but independent from his occupational pension scheme. The maximum amount which may currently be contributed to an employee's pension fund is 15% of salary (which includes benefits in kind) including his company scheme. For example if an employee is contributing 10% of his salary to a company scheme, a further 5% can be paid by that employee in each tax year into FSAVCs or AVCs. However, the employer and employee contributions when combined must not produce benefits in excess of Inland Revenue maximums.


Further Suggestions

Additional hedge
Additional principal payment
Statement of Additional Information (SAI)


 
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