Definitions for "ALLOWABLE EXPENSE"
An expense which you can deduct from your income or capital gains. For example, you can deduct allowable business expenses from trading income, and allowable rental expenses from the income from letting property. Your tax liability will be calculated on the net income (gross income minus allowable expenses) or on the net gains (gross capital gains minus allowable expenses).
An allowable expense is an expense specified by an insurance plan to be eligible for payment either in part or whole.
Any claims that meet the criteria of the insurance policy which you are covered by.