Income Tax and Corporation Tax Essay Example | Topics and Well Written Essays - 2250 words

Income Tax and Corporation Tax - Essay Example Under the finance act 2010/2011, there are three types of rate bands, basic rate, higher rate and additional rate. Every type of income has its own tax rate. These are illustrated in the table below: Basic High Additional Rate Band (?1-?37,400) (?37,401-?150,000) (?150,001 and over) Non-Saving Income 20% 40% 50% Saving Income 20% 40% 50% Dividends Income 10% 32.5% 42.5% If a savings income fall into the basic rate band, then the rate, till the amount of ?2,240 is 10%. Above that the rate of 20% is implied. Any income over and above the individual’s allowance is taxable. There are different kinds of allowances for example personal allowance, old age allowance, married couple allowance, maintenance payment relief, or blind person’s allowance. Personal allowance depends upon the age and income limits, Allowances for the year 2010/2011 are shown below: Age ? Personal Allowance Standard 6,475 Personal Allowance 65 to 74 9,490 Personal Allowance 75 and above 9,640 Income Limi t for age-related Allowances 22,900 Income Limit for standard personal allowance 100,000 The blind person’s allowance is 1,890 pounds for the year 2010/2011, there are no age or income limits, and this allowance is in addition to the personal allowance of the entitled individual. Other allowances like married couple’s allowance or maintenance payment relief are entitled to a couple where both the partners are born before 6 April 1935, or either of the partners or formal partners is born before 6 April 1935, respectively. Married couple’s allowance is ?6,965 for the year 2010/11. Tax Period: The relevant tax period for the year 2010/2011 is from 6 April 2010 to 5 April 2011. All the taxes are computed for this period. Corporation Tax: Scope:... The paper tells that income tax is charged on the income of all UK residents. Income tax is basically charged to all the individuals. That will include employed, self-employed or un-employed individuals. For employed individuals, the basic source of income will be their salaries along with other sorts where as the self employed individuals will be charged on their trading income. Un-employed individuals may have their income coming from savings or investments. There is no maximum age limit for any individual to be exempt from income tax. Corporation tax is payable by limited companies or some other unincorporated businesses, which are UK resident. Such UK resident companies pay tax on their comprehensive income. A company is called a UK resident; if it’s incorporated in UK or even if it isn’t incorporated in UK then it is centrally managed and controlled in UK. In determining where the company’s central administration is positioned, the HM Revenue and Customs wil l focus on the highest level of the company. Especially where the board is located and where all the meetings of the board are carried out. If a company is a non-resident then it is not liable for corporation tax. But if it carries out its trade through a permanent institution like a branch or agency which is a UK resident, then in that case the profits from that institution are liable for tax. From the paper we will see that though rates related to income tax are constantly being increased and the allowances being decreased, no such progressive changes are seen in the corporation tax strategy.

MSc Practical UNIX Security Essay Example | Topics and Well Written Essays - 2000 words

MSc Practical UNIX Security - Essay Example Furthermore, in the UNIX system's early periods, security feature was almost absent. Then, the UNIX system became the first operating system to undergo attacks raised over the promising Internet. With the passage of time, the security arrangement moved from centralized to distributed verification and permission systems (UNIX Systems Cooperative Promotion Group, 1997) and (The Open Group, 2010). This paper discusses various security aspects of UNIX operating system along with some types of attack that can be applied to UNIX operating system. The basic aim of this paper is to describe in a systematic manner the significance of systems configuration and management and how to undertake systems configuration and management for a UNIX system. Security Considerations With the advancements in the technology the chances of security attacks and their intensity is also increasing. In the past, a lot of security and privacy attacks have greatly influenced a large number of organizations and busi nesses. Some well known examples of these attacks include, security develops Nimda, Code Red, RPC buffer overflows, SQL Slammer Worm, SSH vulnerabilities. Thus, to deal with such new types of security attacks a good security management patch as well as effective security strategy is very important, which can help secure organization’s systems and networks. Seeing that the businesses having a high-quality patch security strategy (which implemented all the recognized patches to the target systems) were not influenced or were least influenced as compared to those businesses which neglected patch security strategies and faced harsh issues like business downtime of numerous days and failure of business effort (code as well as data). In this scenario, all the practical systems have their own techniques for implementing security patches. Additionally, HP-UX, Solaris and AIX program and patch installation techniques allow the elimination of an application or a patch by restoring some overwritten operating system files as the â€Å"save† alternative is employed (that is the default option). In addition, the capability to get rid of a (reminded) security patch makes simpler patch administration on these systems liberating the manager from planning routine techniques for patch management and permitting the administrator to focus on improving system security. For this purpose, HP, Sun and IBM offered standard security patch packages for download a number of times every year, in addition to individual patch downloads as well as patch announcement services which can be received via electronic mail (without paying registration fee). Moreover, specific patch downloads are always available at retailer’s websites and a few mirrors for Red Hat Linux. However, the accessibility of alternatives is significant, for the reason that standard patch packages make simpler the normal application of patches as well as get rid of the need for numerous reboots and/or sy stem configuration changes, as individual patch downloads permit the system application of a security patch at the instant as it is accessible (Tsitsivas et al., 2003), (Zheng & Zhang, 2009), (Curphey & Araujo, 2006) and (Ray, 2004). UNIX Security Overview Normally, all UNIX-based or other systems encompass particular log on procedures. However, these procedures depend on