Kembara’s Financial Solutions – What is Annuity?
Annuity means payment made on such a contract. Annuity is a contract where a person pays a premium to an insurance company in one lump sum. Later in return he receives a periodic payment for an agreed period or for the rest of his life. Life assurance is an opposite to the annuity as the policyholder pays lump sum and the insurer makes the regular payments.
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Kembara’s Financial Solutions – What is Annuitant?
Annuitant is the term used to describe any person who receives an annuity. kembara’s Financial Solutions – What is Annual Return?
Annual Return is a document that need to be filed with the Registrar of the Companies usually within seven months of the end of the relevant accounting period. What is required on the Annual Return is the address of the registered office of the company, the info about the share capital and shareholders must also be included, the name, occupation and addresses of the directors and the secretary. The directors’ report, annual accounts/ abbreviated accounts or auditor reports need to be annexed to the Annual Return. Kembara’s Financial Solutions – What is Annual Percentage Rate?
Annual Percentage Rate is similar to rate of return on a loan or investment where the rate of interest and charges are specified in terms of annual rate of interest. Most investment institutions are now required to specify the Annual Percentage Rate when the interest intervals are more frequent than annual. Kembara’s Financial Solutions – What is Annually Compounding Yield?
Annually Compounding Yield or known as percentage yield is the annual return on an investment which is calculated on the assumption of the interest payments are reinvested at the yield rate. Kembara’s Financial Solutions – What is Annual Investment Allowance?
It is an allowance for any business regardless of the size and form. It was introduced from April 2008.The business is allowed to offset 100% of its capital expenditure in any one year against corporation tax with the limit up to 250 000 GBP. The only exception is the fact that cannot be claimed for non commercial motor vehicles. Kembara’s Financial Solutions –What is Annual Depreciation Allowance
Annual Depreciation Allowance is the reduction in the book value of an asset. The reduction is at a fixed percentage rate per year. Kembara’s Financial Solutions – What is Annual Accounts?
Annual Accounts also known as annual report or report and accounts. The It refers to the financial statements of an organization, that is being published annually. There is a legal obligation to publish annual accounts and later to file them in the Companies House. Annual accounts consist of balance sheet, profit and loss account, cash flow and statement of total recognized gains and any losses and directors’ report, auditors’ report as well as supporting documents. Abbreviated Accounts need to be filed by the small companies and medium sized companies and may not have been audited. A specific body may its own regulatory body that regulates its transaction activity. Any non-incorporated bodies such as partnerships may not legally obliged to produce accounts but may do so for HM Revenue for taxation purpose, for bank if funding is needed and for their own on the financial information. |
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