Equity Futures - A Way of LIFFE

Article Abstract:

The introduction of an equity index futures contract and a recent change in the tax rules could bring the pension funds to the London International Financial Futures Exchange (LIFFE). Net profit from LIFFE contracts was taxed as income or gain on disposal of an investment. The tax treatment of transactions by exempt approved pension funds has fallen into line with that of other investments from December 13, 1983. Equity Index Futures Contract is a form of insurance against falling market for the person who owns or manages a portfolio. For the investor, it is a protection against rising share prices. There should be sufficient players who are willing to take on risks for the market to work. The major market makers will be the city institutions and exempt pension funds.

Pensions, Equity (Law)

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Donations - Responding to Recession

Article Abstract:

According to the United Kingdom's Charities Aid Foundation, charities are suffering during this recession with decreased donations and increased expenses. Charities need to seek new sources of donations and work towards improvements in cost-effectiveness. Covenanting is on the increase due to the reduction in length of a deed of covenant from seven to four years. Administration and legal complexities must be exceeded by benefit values. Community funds are cost-effective methods of increasing donations. This increases interest level and awareness in a community as well as raising money. Cancer Research Campaign involved three unit trust schemes to individualize for different taxpayers' needs.

Finance, Charities

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ASC on CCA and Deferred Tax

Article Abstract:

The Accounting Standard Committee (ASC) agreed on two statements which have already caused confusion among the preparers and users of accounts. The first pronouncement was an attempt to clarify how companies should account for deferred tax after changes announced in the budget. SSAP No.15 and ED 33 on deferred tax and SSAP No.6 on extraordinary items and prior year adjustments are now under review. The Statement of Intent on how companies should show the effects of inflation in their accounts marks a new stage in the inflation accounting debate.

Standards, Accounting and auditing, Accounting, Tax credits

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