Glossary

National Advice Service  (NAS)

The HM Revenue & Customs network of advice centres that exist to provide advice and assistance on Customs, Excise and VAT matters. The local rate national telephone number is 0845 010 9000.

National Export System  (NES)

The system for making electronic declarations for customs export procedures, and part of the main customs computer system, the Customs Handling of Import and Export Freight (CHIEF).

National Insurance  (NI)

National Insurance contributions (NICs) are paid by most working people and are collectd by HM Revenue & Customs. Payment of NICs may entitle you to state benefits such as a state pension or jobseeker's allowance.

National minimum wage  (NMW)

The minimum hourly rate of pay which most workers in the UK are entitled to.

National Registration Service  (NRS)

An HM Revenue & Customs registration service that processes new export system authorisations and updates and maintains the electronic register on authorised operators.

Negligence

A form of tort or breach of a legal duty of care where the victim is entitled to some form of compensation, eg damages for harm suffered.

Negligible value

HM Revenue & Customs regard goods as being of negligible value, so long as they can only be used as samples to obtain orders for the type of goods they represent.

Net asset value  (NAV)

The total value of the assets of an organisation or a fund, minus all liabilities and all capital charges.

Net premiums

A term variously used to mean gross premiums net of expenses, commission, taxes, or any combination of these.

Net profit

The gross profit figure minus overheads including depreciation. This may be expressed as a percentage of sales. Net profit does not include interest charges, dividends or tax.

Netting

Traders approved for duty deferment must also be approved to set off drawback and certain other repayments of excise duty against the duty due from them under the deferment arrangements. This set-off procedure is known as netting.

Network

A computer network is used to connect all types of computers and related equipment such as terminals, printers and modems. There are local area networks (LANs) that exist in a limited geographical area such as an office or building, or wide area networks (WANs) that connect computers over large geographic areas, perhaps even internationally.

New Computerised Transit System  (NCTS)

HM Revenue & Customs computerised transit system.

NIC

National Insurance contribution.

Node

Any computer or device connected to a network.

Noise action levels

There are three noise action levels. The first two action levels depend on the noise levels in the workplace and how long people are exposed to noise. The third action level (peak action level) refers to the maximum limit for a single loud noise.

Non-business activities

An activity that is not predominantly concerned with the making of a supply for a consideration.

Non-commercial use

Use for non-profit-making scientific research, charity or educational purposes.

Non-community

Goods that are not of European Union origin or imported goods which have not been released into free circulation.

Non-community countries

Certain areas within the national territory of member states are deemed to be outside the Customs territory of the European Union (EU) and are therefore non-member countries. These are: the German territory of Busingen (bordering Switzerland), the Islands of Heligoland, the Italian communes of Livigno and Campione (bordering Switzerland), the Danish territory of the Faroe Islands and Greenland, the French overseas territories and the Spanish Canary Islands, and the North African enclaves of Ceuta and Melilla, and Andorra.

Non-disclosure

The failure by the insured or their agent to disclose a material fact or circumstance to the insurer before acceptance or renewal of the risk.

Non-executive director

A director who does not work full-time for a company but advises the other directors. Non-executive directors have the full powers and authority of any other director and can bind the company to any contract. However, it might be suspicious if a non-executive is signing contracts for trading goods and stock as they would not normally be involved. Although they might well be a signatory in large strategic contracts.

Non-originating products

In international trade, products which cannot be shown to meet either condition for originating products.

Northern Ireland Environment Agency  (NIEA)

The Northern Ireland Environment Agency advises on and implements environmental policy and strategy in Northern Ireland.