Putting PEP into popular capitalism
Article Abstract:
The Finance Bill of 1986 (not yet enacted into law in Great Britain) will, among other things, allow the tax-free operation of Personal Equity Plans (PEPs). The PEP provision of the law will enable individuals to manage small investment funds, which will accrue dividends and capital gains with a tax-exempt status. The bill, if enacted, will encourage private investment in British stock markets and capital markets. PEPs are not available to corporate bodies or trusts, and married couples entering into PEP formations must do so as two individuals. The tax shelter aspects of this proposed legislation are examined. It is the tax shelter aspects of the PEP that will make it attractive to upper income brackets in the British Isles.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1986
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BES: the end of asset backing?
Article Abstract:
Business expansion schemes in Great Britain, which consist of land and building schemes, and stock trading schemes, will be affected if the Finance Bill of 1986 is enacted. An analysis of these effects indicates that: although the tax law may encourage investment activities (especially among smaller investors), companies with business expansion schemes already in effect may be hurt by the new law. The specifics of the proposed new law are described for both types of expansion schemes, and definitions alluded to within the new law are explained.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1986
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VAT collection and enforcement
Article Abstract:
The Finance Act of 1985 has new and tighter enforcement and collection rules for value-added tax (VAT). Presently, 85 percent of all VAT returns are given late, and a large number of traders do not express much care for the returns which they present, usually at the expense of the Customs & Excise. The VAT regulations are examined in depth.
Publication Name: The Accountant's Magazine
Subject: Business
ISSN: 0001-4761
Year: 1986
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