254 255
HOW BUSINESS WORKS
IndexNew State Pension 240, 246
and retirement 196–7
UK 246
statements, company 44–5
stock exchanges 48–9, 54–5
London Stock Exchange 232–3
stock liquidity 67
stock market
crashes 201
financial markets 54–5
manipulating 66–7
predicting 62–3
shares 48–9, 182, 183
stockbrokers 182, 183
stocks 48
see also shares
stop loss 59
strategic asset allocation 188
sub-prime mortgages 92, 215
subsidies, government 128
superannuation 163, 174
suppliers, payment of 37
supply and demand 13, 134
surplus 110T
tax-free deposits 167
taxation 96, 106–7
and behaviour 106, 126
and cash flow 37
corporation tax 235
council tax 238
and government funds/debt 104–5, 108,
109, 110, 114, 128
increasing/cutting 118, 133, 135
indirect taxes 241
level of 126–7
living abroad 247
and money supply 98
optimum level of 127
and pensions 197, 200, 202, 247
personal tax 242–3
and state pensions 140
tax collection 239
tax evasion and avoidance 107, 126, 127,
234–5, 239
tax gap 239
tax havens 107
tax rate 107
tax refunds 37
tax relief 126
tax returns 107
tax submissions 235
UK tax system 238–9unintended effects of 127
VAT 240–41
technical analysis 62, 63
term deposits 163
term insurance 172
Tesco 29
third markets 61
“tickers” 54
tobacco, tax on 106, 126, 241
Toronto Stock Exchange (TSE) 55
tracker mortgages 215, 244
trade, and money 12, 14–15
trademarks 235
traders 62
trading volumes 63
transatlantic trades 64–5
transparency 113
transport
cost of 132
government investment in 130
traveller’s cheques 86
treasury bills 57
trust, public 142–3, 144
Turquoise 232U
UK Generally Accepted Accounting
Practices (UK GAAP) 234
UK Listing Authority (UKLA) 233
underwriting 75
unearned income 159
unemployment 13, 93, 117
in a depression 94
and exchange rate 138, 139
and inflation 118–19
and interest rates 122, 123
unit trusts 184
United Kingdom
company finance 232–5
personal finance 242–7
public finance 236 – 41
units (managed funds) 169, 184, 185
unlisted funds 168
unsecured loans 121, 204
US Bureau of Labor Statistics 117
US dollar 19
utilities, government investment in 130
utility costs 31, 36V
variable-rate mortgages 214, 244
variance 195
VAT 37, 106, 107, 238, 240 – 41vault cash 90
velocity of money 134
venture capital 43
viatical settlement 172
volatility 34, 52, 53, 80, 169, 190, 191W
wages see salaries and wages
Wall Street Crash (1929) 94
wallets, digital 223, 224
Warren, Elizabeth 141
wartime, government debt in 111
wealth 150–61
calculating and analysing net worth 152–3
generating 160–61
and income 154–9
and managed funds 184–5
and property 176–81
and shares 182–3
wealth-building investments 174 – 85
worth, wealth and income 150–51
wear and tear 32, 33
weighting 195
Welch, Jack 35
welfare spending 128
wills 161
Wilshire 5000 169
windfalls 37
WorldCom 35
worldwide markets 71
worth, net 150, 152–3Y
yield
bonds 50, 51
dividend 164
rental property 170–71
see also returns248-256_Index_Acks.indd 255 13/10/2016 16:33