- apportionment
- A method of calculating the proportion of input tax applicable to business use, if goods or services are used for business and non-business purposes. HM Customs & Revenue Glossary
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apportionment ap‧por‧tion‧ment [əˈpɔːʆnmənt ǁ -ɔːr-] noun [countable, uncountable]1. formal when something is divided and shared out, or an amount of something that has been divided and shared out:• the apportionment of financial support to those states worst affected by the crisis
• financial apportionments
2. ACCOUNTING when each expense is placed in its proper account, or the amount placed in each account3. INSURANCE LAW when insurance companies or their clients agree to share the cost of something that goes wrong, or the amount that each person or company agrees to pay:• The excess shall be deducted prior to apportionment between the two insurers.
4. LAW when the buyer and seller of a property agree to share the cost of a bill, for example property tax, that is paid to cover a period during which they will each be owners for a time:• You should stipulate the apportionment of any service charge liability in the sale agreement.
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apportionment UK US /əˈpɔːʃənmənt/ noun [C or U]► the act of sharing something between several people or organizations: »The apportionment of resources within the health service is very complicated.
► INSURANCE, LAW the act of deciding how responsible each person or organization is for something and therefore how much of the costs they or their insurance company should pay: »the apportionment of blame/liability
► ACCOUNTING the act of dividing costs between different accounts in a fair way, or the amount that is put into each account► PROPERTY an agreement between the buyer and seller of a property to share the costs of the property during the time that the sale is being completed
Financial and business terms. 2012.