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Budget account |
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Budget accountA bank account set up to control a person's regular expenditure. The account would typically include the payment of such items as mortgage, utilities, telephone and other similar items. Annual expenditure for each item is divided by 12 and paid into the account monthly. The bills are then paid from the budget account as they become due.Similar MatchesAccount Management Profile SystemAccount Management Profile SystemIn the US, this system provides access to information helpful to the NYSE staff in managing day-to-day relationships with listed companies, member firms, and institutions. Negotiable Order of Withdrawal Account (NOW)Negotiable Order of Withdrawal Account (NOW)An interest-earning account on which chechs may be drawn. Withdrawals from NOW accounts may be offered by commerical banks, mutual savings banks, and savings and loan associations and may be owned only by individuals and certain nonprofit organizations and govermental units. Current account deficitCurrent account deficitDebits minus credits on current 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. Nominee accountNominee accountAn account in which the named holder holds the assets in it on behalf of another (the beneficiary). In the stock market, the most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined. In theory, dealing costs should be lower. There are some disadvantages: because the individual isn't the registered owner of the shares, he doesn't get sent company reports and accounts, and can't take advantage of shareholder perks, unless his brokers provides a special forwarding service. Further Suggestionsrevenue accountsweeper account Individual Retirement Account (IRA) Accounts payable Tax and loan account lifelong individual savings account Current account balance Cash account IRA (individual Retirement Account) Omnibus account Average accounting return account payee Account statement Statement of Financial Accounting Standards No 8 Active account Managed account Day of deposit to day of withdrawal account Accounts receivable financing current cost accounting individual retirement account Cumulative Translation Adjustment (CTA) account Account Party books of account Asset management account Transcript of Account |
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