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Tax and loan account |
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Tax and loan accountAn account at a private bank, held in the name of the district Federal Reserve Bank, which holds operating cash for the business of the US Treasury.Tax and loan account Similar MatchesAccount Ad Valorem DutyAccount Ad Valorem DutyAn imported merchandise tax expressed as a percentage. 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. Account reconciliationAccount reconciliationThe reviewing and adjusting of the balance in a personal checkbook to match your bank statement. Accounts payableAccounts payableMoney owed to suppliers. Margin accountMargin accountAn account with a broker where a client is able to purchase securities on credit after margin has been deposited. Further SuggestionsHouse accountCertified Public Accountant (CPA) accounts payable Unit of account Transaction account omnibus account cheque account Capital account Individual Retirement Account (IRA) Uncollectible account Undermargined account Accounting liquidity Statement of Financial Accounting Standards No 8 Replacement cost accounting Accounts receivable financing revenue account Merchant account Day of deposit to day of withdrawal account Average accounting return nominee account Special arbitrage account Sweep account Concentration account Individual Savings Account savings account |
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