0 If an amount of money is refundable, it can be given back to the person who paid it, for example because they needhe or she needs to change theirhis or her plans:
1 used to describe money that you pay that is able to be paid back:
a refundable deposit
Subscriptions are not refundable.
2 able to be returned after you have bought it:
At some airlines, passengers can take advantage of refundable tickets.
Because of design flaws and implementation problems, the scheme was thereafter administered as a refundable tax credit.
In line with this assessment, two refundable tax credits were introduced in 2002, aimed at households in mountainous and remote areas, and at families with school children aged 6-16.
During the tax year 1975–76 refundable excess contributions amounting in total to an estimated £1·75 million, were paid in respect of about 50,000 employments.
If the composite rate was made refundable to non-taxpayers, the composite rate and the basic rate would become indistinguishable.
The charge will be refundable if any of the powers are exercised in the applicant's favour.
