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Active account |
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Active accountRefers to a brokerage account in which many transactions occur. Brokerage firms may levy a fee if an account generates an inadequate level of activity.Active account Similar MatchesAccounts payableAccounts payableAmounts owed by an organisation or individual to another for goods or services it has received. Capital account deficitCapital account deficitDebits minus credits on capital account. See deficit. Individual savings accountIndividual savings accountA tax-favoured savings account introduced on 6th April 1999 which replaced PEPs and TESSAs. ISAs are not an investment in their own right. They are a tax-free wrapper in which you can shelter investments.People over the age of 18 living in the UK can invest a maximum of £7,000 per year in each tax year. 16 and 17 year olds can invest up to £3,000 in a mini cash ISA.Investment may be made in three components: equities, cash and life assurance. There are strict limits on how much you can put in each component, and the limits depend in part on whether you use a 'maxi ISA' or a number of mini ISAs.Until 5th April 2004 ISAs benefit from a 10% tax credit on UK equities. Stock and share investments which can be held in an ISA include unit trusts, open ended investment companies (OEICs), investment trusts, ordinary shares, preference shares and fixed interest corporate bonds.PEPs in existence at 6th April 1999 may continue to be held outside an ISA with the same tax advantages. TESSAs in existence at 6th April 1999 are allowed to run their full five year term.Income from ISA investments is tax free and you don't have to report it on your tax return. Capital gains are also exempt from CGT.ISA plans are sold by stockbrokers, IFAs, fund managers, banks and other authorised financial institutions. You can buy a plan and take advice on what to put in it, or you can have a 'self-select' ISA and make your own decisions. Personal accountsPersonal accountsA company's sales accounts of customers contained in the sales ledger and purchase accounts of suppliers contained in the purchase ledger are also known as personal accounts. Nominal accountNominal accountAn account kept in a ledger which itemises revenue and expenditure such as sales and operating costs. Further Suggestionsreal accountStatement of Financial Accounting Standards No 8 lifelong individual savings account Managed account Sweep account Accounting insolvency Average accounting return Current account deficit Tax and loan account Cash account Capital account balance homeowners equity account Overdraft checking account Day of deposit to day of withdrawal account IRA (individual Retirement Account) savings account Capital account Capital account Current account balance loan account Transaction account Balance on current account Accounting Standards Board Special bond account Restricted account |
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