top slicing

top slicing
A method of assessing the taxable gain on a life assurance policy. The proceeds of the policy plus all capital withdrawals, less the premiums paid, are divided by the number of years for which the policy has been in force. This amount is added to any other income for the year in which the chargeable event occurred; if this places the taxpayer in a higher tax band, the whole gain is charged at the appropriate marginal rate, i. e. the tax rate in that band less the basic rate of tax. If the sum does not exceed the basic rate tax, no further tax is due.

Big dictionary of business and management. 2014.

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  • top slicing — noun : a method of mining large ore bodies from the top downward by consecutively removing a series of horizontal slices under a caved capping * * * Mining. mining of thick orebodies in a series of stopes from top to bottom, the roof being caved… …   Useful english dictionary

  • top slicing — Mining. mining of thick orebodies in a series of stopes from top to bottom, the roof being caved with its timbers as each stope is exhausted. * * * …   Universalium

  • top-slicing — noun a method of assessing tax chargeable on a lump sum by averaging the sum out over the years it has accrued and charging accordingly …   English new terms dictionary

  • top-slicing — / tɒp ˌslaɪsɪŋ/ noun the practice of selling part of a holding in a share which is equivalent to the original cost of the investment, leaving another part still held which represents the gain made …   Dictionary of banking and finance

  • top-slice — UK [ˈtɒp slaɪs] / US [ˈtɑp slaɪs] verb [transitive] to reduce an amount of money He proposes top slicing the corporation s budget by up to £130 million …   English dictionary

  • List of characters in Top 10 — Top 10 is a comic book series published by Wildstorm Comics under their America s Best Comics imprint. All characters were created by Alan Moore unless otherwise stated.The following list includes characters from the original twelve issue series… …   Wikipedia

  • Life insurance — The foundation of life insurance is the recognition of the value of a human life and the possibility of indemnification for the loss of that value. F. C. Oviatt, Economic place of insurance and its relation to society[1] Life insurance is a… …   Wikipedia

  • Инвестиционный сертификат — (investment bond) Полис страхования жизни с единовременным страховым взносом, представляющим собой инвестицию фиксированной суммы (обычно более 1 000 ф. ст.) в фонд, обеспеченный активами (asset backed fund). Обычно полисы не имеют определенного… …   Финансовый словарь

  • ИНВЕСТИЦИОННЫЙ СЕРТИФИКАТ — (investment bond) Полис страхования жизни с единовременной выплатой страхового взноса (single premium), представляющий собой инвестицию фиксированной суммы (обычно более 1000 ф. ст.) в фонд, обеспеченный активами (asset backed fund). Выплата… …   Словарь бизнес-терминов

  • СРЕЗАНИЕ ВЕРХНЕГО ЛОМТЯ — (top slicing) Метод оценки подлежащего налогообложению дохода от полиса страхования жизни. Поступления от полиса плюс все изъятия капитала (имевшие место ранее выплаты страховой суммы) минус выплаченные страховые премии делятся на число лет, в… …   Финансовый словарь

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