|
United Kingdom Corporation Tax
: ''Throughout this article, the term "pound" and the £ symbol refer to the Pound sterling.'' Corporation tax in the United Kingdom is a corporate tax levied in on the profits made by UK-resident companies and on the profits of entities registered overseas with permanent establishments in the UK. Until 1 April 1965, companies were taxed at the same income tax rates as individual taxpayers, with an additional profits tax levied on companies. Finance Act 1965 replaced this structure for companies and associations with a single corporate tax, which took its basic structure and rules from the income tax system. Since 1997, the UK's Tax Law Rewrite ProjectTax Law Rewrite , Her Majesty's Revenue and Customs (HMRC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder
A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law the corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself. The influence of a shareholder on the business is determined by the shareholding percentage owned. Shareholders of a corporation are legally separate from the corporation itself. They are generally not liable for the corporation's debts, and the shareholders' li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derick Heathcoat-Amory
Derick Heathcoat-Amory, 1st Viscount Amory, , ( ; 26 December 1899 – 20 January 1981) was a British Conservative politician and member of the House of Lords. He served as Chancellor of the Exchequer between 1958 and 1960, and later as Chancellor of the University of Exeter from 1972 until his death in 1981. Background and education Born in London, the son of Sir Ian Heathcoat-Amory, 2nd Baronet (see Heathcoat-Amory baronets) and Alexandra Georgina ( OBE; who d. 1942), eldest daughter of Vice-Admiral Henry Seymour CB (brother of Francis, 5th Marquess of Hertford GCB). He was educated at Ludgrove School followed by Eton College and Christ Church, Oxford, receiving an MA degree. His great-nephews include the Rt Hon David Heathcoat-Amory and Sir Ian Heathcoat-Amory, 6th and present baronet. A great-aunt was the sculptress, Princess Victor of Hohenlohe-Langenburg, Countess von Gleichen. Career Heathcoat-Amory was elected a Devon County Councillor in 1932 and worked in te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hugh Gaitskell
Hugh Todd Naylor Gaitskell (9 April 1906 – 18 January 1963) was a British politician who served as Leader of the Labour Party and Leader of the Opposition from 1955 until his death in 1963. An economics lecturer and wartime civil servant, he was elected to Parliament in 1945 and held office in Clement Attlee's governments, notably as Minister of Fuel and Power following the bitter winter of 1946–47, and eventually joining the Cabinet as Chancellor of the Exchequer. Facing the need to increase military spending in 1951, he imposed National Health Service charges on dentures and spectacles, prompting the leading left-winger Aneurin Bevan to resign from the Cabinet. The perceived similarity in his outlook to that of his Conservative Party counterpart Rab Butler was dubbed "Butskellism", initially a satirical term blending their names, and was one aspect of the post-war consensus through which the major parties largely agreed on the main points of domestic and forei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Attlee Ministry
Clement Attlee was invited by King George VI to form the Attlee ministry in the United Kingdom in July 1945, succeeding Winston Churchill as Prime Minister of the United Kingdom. The Labour Party had won a landslide victory at the 1945 general election, and went on to enact policies of what became known as the post-war consensus, including the establishment of the welfare state and the nationalisation of some industries. The government's spell in office was marked by post-war austerity measures, the violent crushing of pro-independence and communist movements in Malaya, the grant of independence to India, the engagement in the Cold War against Soviet Communism as well as the creation of the country's National Health Service (NHS). Attlee went on to win a narrow majority of five seats at the 1950 general election, forming the second Attlee ministry. Just twenty months after that election, Attlee called a new election for 25 October 1951 in an attempt to gain a larger ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Callaghan
Leonard James Callaghan, Baron Callaghan of Cardiff, ( ; 27 March 191226 March 2005), commonly known as Jim Callaghan, was Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980. Callaghan is the only person to have held all four Great Offices of State, having served as Chancellor of the Exchequer from 1964 to 1967, Home Secretary from 1967 to 1970 and Foreign Secretary from 1974 to 1976. He was a Member of Parliament (MP) from 1945 to 1987. Born into a working-class family in Portsmouth, Callaghan left school early and began his career as a tax inspector, before becoming a trade union official in the 1930s; he served as a lieutenant in the Royal Navy during the Second World War. He was elected to Parliament at the 1945 election, and was regarded as being on the left wing of the Labour Party. He was appointed to the Attlee government as a parliamentary secretary in 1947, and began to move increasingly towards the right wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generally Accepted Accounting Practice
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straight forward. Larger firms most often operate on an accrual basis. Accrual basis is one of the fundamental accounting assumptions and if it is followed by the company while preparing the Financial statements then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include: identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames. Limitations The notable limitations of accounting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation Tax Act 2010
The Corporation Tax Act 2010 (c.4) is an Act of the Parliament of the United Kingdom that received Royal Assent on 3 March 2010. It was first presented ( first reading) in the House of Commons on 19 November 2009 and received its third reading on 4 February 2010. It was first read in the House of Lords The House of Lords, also known as the House of Peers, is the upper house of the Parliament of the United Kingdom. Membership is by appointment, heredity or official function. Like the House of Commons, it meets in the Palace of Westminst ... on 4 February 2010 and received its second and third readings on 2 March 2010. Overview Section 1 of the Act gives a summary of the contents of the 2010 Act, and the changes it made, primarily to the Income and Corporation Taxes Act 1988. References External linksCorporation Tax Act 2010 on legislation.gov.uk United Kingdom Acts of Parliament 2010 Tax legislation in the United Kingdom {{UK-statute-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Avoidance
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. Tax avoidance should not be confused with tax evasion, which is illegal. Forms of tax avoidance that use legal tax laws in ways not necessarily intended by the government are often criticized in the court of public opinion and by journalists. Many corporations and businesses that take part in the practice experience a backlash from their active customers or online. Conversely, benefiting from tax laws in ways that were intended by governments is sometimes referred to as tax planning. The World Bank's World Development Report 2019 on the future of work supports increased government efforts to curb tax avoidance as part of a new social contract focused on human capital investments and expanded so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Court Of Justice
The European Court of Justice (ECJ, french: Cour de Justice européenne), formally just the Court of Justice, is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Union, it is tasked with interpreting EU law and ensuring its uniform application across all EU member states under Article 263 of the Treaty of the Functioning of the European Union (TFEU). The Court was established in 1952, and is based in Luxembourg. It is composed of one judge per member state – currently – although it normally hears cases in panels of three, five or fifteen judges. The Court has been led by president Koen Lenaerts since 2015. The ECJ is the highest court of the European Union in matters of Union law, but not national law. It is not possible to appeal against the decisions of national courts in the ECJ, but rather national courts refer questions of EU law to the ECJ. However, it is ultimately for the national c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Government
ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_established = , state = United Kingdom , address = 10 Downing Street, London , leader_title = Prime Minister (Rishi Sunak) , appointed = Monarch of the United Kingdom (Charles III) , budget = 882 billion , main_organ = Cabinet of the United Kingdom , ministries = 23 ministerial departments, 20 non-ministerial departments , responsible = Parliament of the United Kingdom , url = The Government of the United Kingdom (commonly referred to as British Government or UK Government), officially His Majesty's Government (abbreviated to HM Government), is the central executive authority of the United Kingdom of Great Britain and Northern Ireland. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Competition
Tax competition, a form of regulatory competition, exists when governments use reductions in fiscal burdens to encourage the inflow of productive resources or to discourage the exodus of those resources. Often, this means a governmental strategy of attracting foreign direct investment, foreign indirect investment (financial investment), and high value human resources by minimizing the overall taxation level and/or special tax preferences, creating a comparative advantage. Scholars generally consider economic development incentives to be inefficient, economically costly, and distortionary. History From the mid 1900s governments had more freedom in setting their taxes, as the barriers to free movement of capital and people were high. The gradual process of globalization is lowering these barriers and results in rising capital flows and greater manpower mobility. Impact According to a 2020 study, tax competition "primarily reduces taxes for mobile firms and is unlikely to substanti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> James Callaghan")
