- published: 16 Apr 2013
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24/7 is an abbreviation which stands for "24 hours a day, 7 days a week", usually referring to a production line or service facility or any other business available at all times without interruption. In the UK it may be known as round-the-clock service, with or without the hyphens. In some countries, such services are called nonstop.
In commerce and industry it sometimes identifies a service that will be present regardless of current time or day, as might be offered by a supermarket, convenience store, ATM, automated online assistant, filling station, restaurant, concierge services or a manned computer data facility. Today, it is common for call centers to have representatives available 24/7. This is due to, in part, a decrease in long distance call charges, which allow employees based in one continent and time zone to provide services to customers in another during its night hours.
In some cases, even a service stated to be available 24/7 may shut down, such as on a major holiday.
An extended version 24/7/365 intends to denote a service that is available year-round, by including the number of days per year.
Pension tax simplification, often simply referred to as "pension simplification" and taking effect from A-day in 6 April 2006 was a policy announced in 2004 by the Labour government to rationalise the British tax system as applied to pension schemes. The aim was to reduce the complicated patchwork of legislation built-up by successive administrations which were seen as acting as a barrier to the public when considering retirement planning. The government wanted to encourage retirement provision by simplifying the previous eight tax regimes into one single regime for all individual and occupational pensions.
Broadly the new regime allows considerable freedom in the tax relievable contributions that may be made to pension schemes, and the assets in which they may be invested. It also however caps the size of tax favoured pension fund that may be accumulated by an individual. This 'lifetime allowance' was set at £1.6M for 2007–08. Funds accumulated in excess of the lifetime allowance are subject to a tax charge of 55%. Transitional protection provisions were made for individuals who had already accumulated pension funds in excess of this amount.
24 Hours or Twenty Four Hours may refer to:
In fiction:
In music: