Monday, February 17, 2020
Life-cycle saving taxation Essay Example | Topics and Well Written Essays - 2000 words
Life-cycle saving taxation - Essay Example In addition, an employee is able to claim tax relief through the tax return if the pension contribution is not catered in the deduction of tax by the employer. Similarly, individuals under the personal scheme forfeit income tax before the pension contribution is catered. However, the tax is reclaimed by the pension provider at a basic rate of 20 per cent (HMRC.com, 2014). In addition, an individual is able to claim back the excess tax remitted through the tax return. However, the maximum amount of income saving that enjoys tax relief under the current taxation system is à £50,000. Furthermore, an individual taking early withdrawal from the pension pot before the retirement age is liable for paying tax bill that is equal to 55 per cent of the pension savings withdrawn. However, if an individual withdraws the pension after reaching the set out age, he/she will pay tax depending on the taxable income after the tax-free allowances (HMRC.com, 2014). The tax that individuals pay on their pension is a lump-sum tax that is a fixed tax regardless of the asset owned or income. Consequently, household income savings are not taxed in UK but they are taxed when the savings is withdrawn. This strategy encourages savings in the country from household income earned during their working days to consume it in their retirement at a fair taxation scheme. The proposed taxation system by the author is one that observes the neutrality principle in taxing the income savings. Neutrality principle in taxation is the condition where the individualââ¬â¢s efficacy in the economic well being is not hindered by taxation mechanism employed by the policy makers (Anderson, 2012). This implies that the taxation of the householdsââ¬â¢ savings should be done in a way that does not distort their choice on the time they should consume income. In addition, the taxation system should avoid distorting the choices households
Monday, February 3, 2020
Retail logistic Essay Example | Topics and Well Written Essays - 2000 words
Retail logistic - Essay Example The service sector is growing faster than the goods and manufacturing sector globally. Service retailing can again be subdivided into rented goods services, owned goods services and non-goods services. Very often, emails are found, which are least expected, in the inbox. These are commercial mails that promote a product or a service and generally ask you to click on a specific link given in the mail. If the person is interested, then he/she will visit that site, otherwise he can just delete the mail from the inbox. This is one of the popular online marketing strategies that marketers are adopting to reach potential customers. Technology has become the predominant element in many businesses. IT has added to the capabilities of companies enabling them to set new standards in business. The power of the Internet has transformed everything. E-commerce has redefined markets, industries and the way one does business. The growth of online marketing has just begun and it is at an early stage of evolution. The Internet has not only revolutionized personal lives, but has even transformed the world of business to a great extent. Every company today, irrespective of whether it is a dotcom comp any or not, has a presence on the net. The Internet has become an effective medium for reaching potential customers all over the globe. The rapid increase in the growth on online marketing can be attributed to many factors. Goods, services and ideas can move across continents efficiently at the click of a mouse. Anyone can link up with anyone else, anytime and anywhere in the world. With the advent of e-commerce, the rapid growth of the Internet and online transactions taking place at all times of the day and night, todayââ¬â¢s markets, businesses and customers never sleep. This is not only a new challenge for global businesses attempting to serve a client base that spans time zones, but also for local enterprises that can no longer
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