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glossary of terms
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Choose a letter:
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N
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net indicates a sum of money from which certain amounts have already been taken away.
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net interest this is interest which has already had the tax taken off it.
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net pay the pay you actually get. All the deductions have been taken off before you get it.
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net profit in a business - the gross profit less the overheads of the business measured over a particular time.
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non-priority debts less important debts. The people you owe the money to can take you to court to recover the debts but cannot take any other action (such as cutting off a service or repossessing your home). They are likely to accept reasonable repayments.
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notice the time you must wait to get your money after telling your bank or building society that you want to take it out. If you don't wait this time you may be penalised by, for example, losing interest.
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