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UK Life Insurance Policies

Life insurance policies which are issued by insurance companies based in the UK.

UK Savings and Investments

Amounts which you have set aside from your income over the years and invested within the UK.

Generally refers to deposits made with a bank or building society, and to investments in shares, unit trusts and so on.

Does not include land and property held as an investment.

Unapproved Share Option Schemes

Schemes where you may be granted options to buy shares, but which have not been approved by the Inland Revenue.

Approved schemes are approved savings related share option schemes, approved profit sharing schemes and approved discretionary share option schemes.

Unapproved Share Options

Options that enable you to buy shares at a set price, at a set time or within a set period, but which have not been granted under schemes approved by the Inland Revenue.

Approved schemes are approved savings related share option schemes, approved profit sharing schemes and approved discretionary share option schemes.

Unearned Income

Unearned income is income which you have not earned by working. It includes dividends from shares you own, interest on savings and most income from land and property.

Income from furnished holiday lettings is, however, treated as earned income.

Unemployed

You are unemployed if you are not working, either as an employee or as a person who is selfemployed.

Unindexed Gain/Loss

The capital gain or loss on the sale of an asset before deducting the indexation allowance.

Unit Trust

A unit trust is a trust that invests its funds in a spread of equities or fixed interest securities.

A professional manger runs the portfolio. You buy units in the unit trust, the amount you pay being added into the unit trust's funds. 

The price you pay for the units is based on the value of the unit trust's investments.

You can sell your units back to the unit trust at any time.

There is a difference between the buying and selling price, known as the "bid/offer spread".

Unit Trust Income from UK Unit Trusts

Income paid to you by unit trusts in which you hold units.

Unlisted

Unlisted shares are shares that are not listed on a stock exchange.

Unpaid Tax

Tax which has not been paid to the Inland Revenue although it is due for payment.

Unquoted Trading Company

A company which trades and is not quoted on a recognised stock exchange

 Companies which hold assets for long term gain are not trading companies (they are investments companies).

Most private companies are unquoted trading companies.


AVVERTENZE D'UTILIZZO: Il presente glossario contiene una definizione dei termini più utilizzati in ambito fiscale e d'imposte nel Regno Unito.
La spiegazione di ciascuno dei termini indicati in questo glossario è di carattere meramente orientativo e priva di valore legale; si raccomanda, quindi, di tenere conto del contesto e dell'evento in cui essi vanno applicati, in quanto il significato loro attribuito potrebbe differire rispetto a quello qui rappresentato.

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