Glossary
Browse Glossary A-Z
E
E-business
The conduct of business on the internet. It includes promotion and marketing, buying and selling goods and services, collaborative design, managing relationships with trading partners and online recruitment. It also applies to internal processes, such as the integration of office systems or HR management.e-DOMERO
The Plant Health Inspectorate e-Domero System allows persons registered with the Government Gateway and engaged in plant health activities to submit application(s) for Plant Health services over the internet and view records online.E-marketing
Using digital technologies such as the internet, email and mobile phones to market your business.E-procurement
Using internet technologies to help find and buy new services - from using email to place orders, to taking part in internet auctions and marketplaces.E-tail
The sale of products and services on the internet, ordinarily used to refer to the sale of consumer goods.Earnings before interest and tax (EBIT)
Another variation is EBITDA - earnings before interest, tax, depreciation and amortisation.Earnings per share (EPS)
The earnings of a company over a defined period, divided by the number of ordinary shares it has issued.EC Sales Lists (ESLs)
The requirement on businesses in all European Union member states to submit reports on their sales of taxable supplies of goods, extended on 1 January 2010 to intra-EC supplies of services to which a reverse charge applies in the customer's Member State. Also see European sales lists.Eco-Management and Audit Scheme (EMAS)
EMAS is a voluntary standard that businesses can apply for, which demonstrates that they have gone beyond minimum legal compliance and are continually improving their environmental performance. Businesses regularly produce a public environmental statement that reports on their environmental performance.Ecolabel
An Ecolabel is awarded to products that meet strict criteria to prove that they minimise their impact on the environment. The Ecolabel is a voluntary European instrument to encourage the development of greener products.Economic Registration and Identification Scheme (EORI)
The Economic Registration and Identification (EORI) Scheme replaces the Trader's Unique Reference Number as of 1 July 2009. An EORI number is a number unique throughout the European Community, assigned by a Customs authority in a member state and valid throughout the Community.Electronic Applications for Phytosanitary Certificates (EAPC)
A system developed for the Plant Health Inspectorate to provide for the electronic delivery and processing of interactive application forms for export certificates for plants and plant products.Electronic data capture service (EDCS)
The transport mechanism for electronic data interchange data between the trade and various HM Revenue & Customs systems. There are three methods of submission to electronic data capture service: Simple Mail Transfer Protocol email attachment, ISO standard for electronic mail (x.400) email attachment and web.Electronic Data Interchange (EDI)
Used to transfer structured business data (such as orders and invoices) electronically by agreed message standards, from one trading partner to another. Standards were agreed before Internet activities were established in a business context and so formed the forerunner of much of today's business to business e-commerce.Electronic data interchange (EDI)
The method of exchanging messages between computer systems over an electronic communications network nationally and internationally.Electronic data interchange for administration, commerce and transport (EDIFACT)
Electronic Data Interchange for Administration, Commerce and Transport - is the basic unit for communicating information electronically. For example, a Supplementary Declaration is submitted as a Customs Declaration.Electronic Point of Sale (EPOS)
Equipment such as electronic tills and terminals.Eligible goods excise
Goods on which excise drawback may be claimed.Emissions trading
Emissions trading is a type of economic instrument that allows participants to buy and sell allowances in order to cut greenhouse gas emissions in the most cost-efficient manner. Some energy-intensive businesses are required to participate in the European Union Emissions Trading Scheme.Employer-Financed Retirement Benefits Scheme (EFRBS)
These non-registered pension schemes were previously known as funded unapproved retirement benefits schemes (FURBS). FURBS were aimed at high-earning individuals. Under these schemes employer contributions are not liable to tax or National Insurance and are not deductible in employer accounts until benefits are paid to the employee.Employers' liability insurance
Insurance for employers in respect of their liability to employees for injury or disease arising out of, and in the course of, their employment. With some exemptions this insurance is compulsory in England, Scotland, Wales and Northern Ireland and can only be provided by an authorised insurer.Encroachment
When a building or some portion of it, or a wall or fence, extends beyond the land of the owner and illegally intrudes upon that of an adjoining owner.Encryption
Scrambling information to prevent unauthorised disclosure or modification using mathematical techniques. Techniques normally use an encryption algorithm with a key to ensure that only the intended recipient can read the information.End use
Arrangements which allow certain imported goods to be declared for free circulation in the European Union at a reduced or nil rate of duty, provided they are put to a prescribed use under Customs control.Enforcement notices
Enforcement notices are issued by the environmental regulator if breach of a permit or consent has occurred, or is likely to occur.Enhanced capital allowance
A tax break that allows you to write off the whole cost of certain energy-efficient and water-efficient equipment and low-emission vehicles against your taxable profits in the year of purchase.Enhanced remote transit shed (ERTS)
A place situated outside the appointed area of an approved port/airport where non-European Union goods may be held until they are assigned to a Customs approved treatment or use.Enterprise Finance Guarantee
Government service which provides lenders with a guarantee against default on loans made to small and medium sized businesses. This scheme replaced the Small Firms Loan Guarantee (SFLG) which covered loans taken out before 31 December 2008.Enterprise management incentive (EMI)
Tax advantaged share options designed to help small businesses recruit and retain skilled employees. Under an EMI, qualifying employees can be offered share options up to £120,000, with a total share value of £3,000,000 being offered to all employees.Enterprise Resource Planning (ERP)
A software system that handles all of a business' departments and functions in one seamless process. It will typically incorporate fully integrated packaged software applications, including product planning, purchasing parts, maintaining inventories, interacting with suppliers, providing customer service, and tracking orders.Enterprise resource planning (ERP)
Computer software which integrates all the key systems, processes and data held by a business to streamline processes, reduce costs and achieve greater integration.Entitled destinations
Destinations within the European Union eligible to receive Common Agricultural Policy export refunds.Entitled passenger
A person travelling by sea or air to a country outside the fiscal/Customs territory of the European Union and in possession of a valid transport document.Entitled vessel
A vessel with authority from HM Revenue & Customs to receive duty-free stores.Entry
A declaration and request for customs release in respect of imports or goods intended for export. It is usually made on a single administrative document. Traders approved to do so can submit entries electronically.Entry processing point (EPP)
A customs office that partially processes entries but does not have the full facilities of an entry processing unit.Entry Processing Unit (EPU)
A HM Revenue & Customs and excise entry processing unit where import, export and duty payment documents are processed.Environment Agency (EA)
The Environment Agency is the main regulatory and enforcement authority for environmental matters in England and Wales. It is responsible for matters concerning waste regulation, water quality including pollution prevention and regulating the emissions from most large industrial and manufacturing processes.Environmental Health Officer (EHO)
EHOs are the officers who undertake the duties of the enforcement authority (local authorities) responsible for health and safety for some premises including offices, retail premises, food premises, exhibition premises and some warehousing. EHOs also have environmental responsibilities such as dealing with air pollution problems and noise nuisance.Environmental Impact Assessment (EIA)
EIA is part of the planning process and is used to take into account environmental considerations for larger proposed developments, including various types of construction and engineering projects.Environmental Management System (EMS)
An EMS helps a business to assess and manage its impact on the environment.Environmental permitting
Environmental permitting applies an integrated approach to the environmental management of certain businesses. It covers emissions to air, land and water, noise and vibration, energy efficiency, waste minimisation, environmental accidents and site protection. Environmental permitting replaced IPPC in England and Wales. IPPC still applies in Northern Ireland and Scotland.Equities
These are the ordinary shares of publicly-quoted companies.Equity
The value of something, such as a house, less any money owing on it.Equity finance
A way of raising share capital from external investors in exchange for a share in a business.Ethernet
A local area network protocol supporting the connection of devices such as computers, printers, workstations, terminals and servers within the same office or building.Euro
The European currency unit used by 16 members of the European Union: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Spain, Slovakia and Slovenia, all of which have joined the Economic and Monetary Union and use the euro in place of their old national currencies. Estonia will adopt the euro on 1 January 2011.Eurodollars
US dollars deposited in Europe.European Binding Tariff Information (eBTI)
System for implementing the Common Customs Tariff. The information is issued to economic operators by the customs authorities of the European Union member states. Thus, traders will know in advance, the tariff classification of the goods they intend to import or export. This information is introduced into a database run by the European Commission and is legally valid in all member states, regardless of the member state which issued it.European Commission
One of the three main governing bodies of the European Union (EU). The Commission drafts proposals and is responsible for implementing policy. It is also responsible for ensuring that EU legislation is carried out.European Community (EC)
European Community and European Economic Community are now referred to as the European Union.European Free Trade Association (EFTA)
Members of the European Free Trade Association are Iceland, Norway, Liechtenstein and Switzerland.European sales lists (ESL)
All businesses registered for VAT that supply goods, and from 1 January 2010 certain services, to businesses registered for VAT in other European Union (EU) member states must send HM Revenue & Customs lists of their EU supplies. Other member states use the information provided on the European sales lists to ensure VAT has been correctly accounted for. Also see EC Sales Lists.European Union (EU)
An economic association of European countries founded by the Treaty of Rome in 1957 as a common market. It was known as the European Economic Community before 1993. The 27 European Union member states are: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.European Waste Catalogue
The European Waste Catalogue has been produced by the European Union to allow those dealing with waste to identify it accurately. It is used in duty of care for waste documentation. The catalogue also identifies wastes that should be classified as hazardous.Eurozone
The countries within the European Union that have adopted the euro as their currency.Eviction
The dispossession of a tenant of leased property by force or through the legal process.Ex gratia
Payment made "as a favour" by an insurer, when there is no obligation under the policy terms.Ex works (EXW)
An Incoterm, where the seller makes the goods available to the buyer at their own premises or another named place. The buyer assumes all the costs and risks of clearing the goods for export and loading and transporting the goods.Excess (or deductible)
Specified initial amount of a claim that the insured has to contribute. If a claim is less than the excess stated in the policy, no payment is made by the insurers. Excesses do not apply to Employers' Liability Compulsory Insurance, as the insurer is responsible for any payments due to the employee.Exchange rate
This is the value of one currency compared to another.Excise Duty
A UK duty charged on both UK produced and imported goods. Goods subject to excise duty include beer, wine, spirits and other alcoholic drinks, hydrocarbon oils (including fuel oil), and tobacco goods. The rate of duty is set separately for each product.Excise goods
Goods, other than chewing tobacco, which are chargeable with a duty of excise by or under the Alcoholic Liquor Duties Act 1979, the Hydrocarbon Oils Duties Act 1979 or the Tobacco Products Act 1979.Excise Movement and Control System (EMCS)
EMCS is a computerised system for monitoring the movements of excise goods under duty suspension within the European Union - ie goods for which excise duties are yet to be paid. As of 1 April 2010, EMCS is replacing the paper Administrative Accompanying Document (AAD) with the electronic Accompanying Document (e-AD), although it will not be fully functional until 1 January 2011. During the transitional period between April 2010 and January 2011, goods may be received using either system.Excise warehouse
A warehouse authorised by HM Revenue & Customs for the deposit, without payment of duty, of goods liable to excise duty. There are special requirements for premises for the storage of oil.Exclusion (or exception)
An event or circumstances specifically excluded from the terms of an insurance policy.Exempt persons
Importers who are not registered for VAT or registered taxable persons who are re-importing goods other than in the course of their business.Export
Movement of goods from the UK to a destination outside the European Union. This includes the Channel Islands.Export Cargo Shipping Instruction (ECSI)
Issued by exporters to the freight forwarder or carrier, telling them what the goods are, the terms and conditions for movement of the goods and cost allocation.Export Credits Guarantee Department (ECGD)
The UK government's official export credit agency. It helps UK manufacturers and investors trade overseas by providing them with insurance and backing for finance to protect against non-payment.Export house
Intermediary organisation between an exporter and a buyer.Export invoice
Part of the documentation needed if you ship your goods abroad. It should contain a full description of your goods, their price, weight and country of origin.Export licence
Government document legally required for the export of certain goods such as pharmaceuticals, chemicals and munitions. It's the exporter's responsibility to obtain a licence if necessary.Export packing list
This is attached to the outside of the package to be shipped and specifies the weight, volume and type of cargo.Export preferences
Preferential rates of duty charged on certain goods exported from the UK, in effect allowing the buyer to benefit from a lower or zero rate of customs duty. To be eligible, your goods must satisfy a number of rules.Export reception list (ERL)
A sequentially numbered computer produced list containing specified details of all export consignments which have been received and for which details have been recorded on the computer since the production of the previous list.Export refund
A payment made to exporters under Common Agricultural Policy provisions on the export to non-European Union (EU) countries of certain goods originating in the EU, or in free circulation, where EU prices are above world prices.Export shop
An excise warehouse approved for the supply of excise goods to entitled passengers without payment of excise duty.Export time out
A period of time agreed with customs locally, after which, if there has been no customs intervention, goods may be loaded for export.Exported tobacco products
Tobacco products which are manufactured in the UK and are exported to another European Union member state or to a third country, either directly or indirectly.Exporter
For Customs purposes this is considered to be the person on whose behalf the export declaration is made and who is the owner of the goods, or has a similar right of disposal over them at the time the declaration is accepted. Where the ownership, or a similar right of disposal over the goods, belongs to a person established outside the European Union (EU) pursuant to the contract on which the export is based, the exporter is considered to be the contracting party established in the EU.Extract
A supplementary licence or certificate issued by a competent authority for part of the quantity authorised by an existing licence or certificate.Extranet
A restricted-access website, accessible to selected external partners (such as trading partners) for exchanging data and applications and sharing specific business information. The users of the extranet are a well defined group and access should be protected by rigorous security features.
