UK Business Jargon - Letter I

Index : A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X|Y|Z

Import duty

Taxes HM Revenue & Customs charge on goods imported into the European Union. These include Customs duty, Common Agricultural Policy (CAP) Charges, and Anti-Dumping Duty (ADD).

Imported goods

Goods imported from outside the European Union and not in free circulation.

Insolvency

When a business cannot pay its outstanding debts or when the value of its assets is less than the value of its debts. Insolvency can lead to the bankruptcy of individuals such as sole traders or the winding up of a business if it is not addressed.

Intranet

A privately maintained computer network, using the same browser technology and network protocols as the Internet, that can be accessed only by authorised users, typically employees of the organisation that owns it.

Interest

The payment for the use of money, ie borrowed from a bank or other lender, expressed as a percentage rate for the period of time in use, generally an annual rate. A payment for the use of money, say borrowed from a bank or other lender.

Invoice Discounting

Selling your sales invoices (in confidence) to a finance house in exchange for cash. Debt management remains your responsibility.

ISDN Integrated Services Digital Network.

An international standard for digital communications over telephone lines, which allows for the transmission of data at 64 or 128 Kbps.

ISO14001

ISO14001 is an internationally recognised standard for Environmental Management Systems (EMS). The standard recognises businesses that demonstrate compliance with the legislation and attainment of high environmental standards.

Internet service provider (ISP)

A company that provides its customers with access to the Internet. Some ISPs also offer a number of email addresses and web space on which customers can house their own websites.

 

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