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Essay / Research Paper Abstract
This 9 page report discusses the tax issues being faced by a hypothetical couple, Jack and Jessica Snipes, who own a pub in England and also have a variety of other monetary and financial problems aside from the tavern. The report is written in the form of a letter to each of them to explain their various tax obligations and suggestions on how they should best handle them. No bibliography.
Page Count:
9 pages (~225 words per page)
File: D0_BWukTAX.rtf
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Unformatted sample text from the term paper:
concerned by. Your questions demonstrate that you have a firm grasp on the realities, problems, and profitability of running a pub in England. Here are some of the
issues - taxes, incorporation, inheritance, dependent care - with which you should be well aware. First, you should understand that inheritance tax
is different from any of the other tax structures in place. In Great Britain, it is collected largely from people who died both unexpectedly and at a relatively young age,
or who did not exploit the many legal loopholes that would have or could have allowed it to be avoided. However, Mr. Swipes, rest assured that, for anyone able
to plan for it, Britains death duties are the most benign in the worlds sophisticated tax regimes. Inheritance Tax (IHT) planning revolves around the gifting of capital during lifetime. Under
current rules such gifts are (in general) not taxed when they are made and are treated as exempt transfers if the person making the gift survives for a further seven
years. The IHT rules make it clear that this treatment should only be afforded to gifts that are made in such a way that the donor can have absolutely no
benefit from them. Please keep this in mind as you plan for Jude and Josies future security. No doubt you have heard
of or seen the advertisements from a variety of institutions announcing that new Personal Equity Plan (PEP) investments will not be able to be made now (since April 1999). New
investments should, instead, be directed to the new Individual Savings Account (ISA). Individual Savings Account (ISA) are a new way of holding cash deposits, life assurance policies and investments in
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