ADVANCED TAX Essay Example | Topics and Well Written Essays - 1500 words

ADVANCED TAX - Essay Example One of the strategies the couple can use to reduce the tax amount of the capital gain expected is to time carefully the disposal of the shares to fall into diverse tax years and take advantage of annual exemptions in each year (King & Carey, 2014). This strategy has the potential of reducing significantly the amount of tax that the couple will pay for the capital gain accumulated from the sale of the shares. This is because capital gains less than  £10,600 per annum are not taxed on individuals (Mclaughlin, 2013). Thus, the couple can spread the sale of the shares in seven different periods to ensure the capital gains fall in different years. This will ensure the capital gains accumulated are exempted from taxation. The capital gain that will be realized if the disposal is timed in seven different periods will be ( £68,000/ 7 =  £9,714.286). This capital gain is below  £10,600 per annum that will allow the gain to be exempted from taxation completely. Similarly, the shares can held under individual savings account (ISA) that will ensure the CGT liability is exempted from capital gains accumulated after disposal of the shares (King & Carey, 2014). Currently, the maximum value of shares that can be held under the ISA is  £11,520 for tax year 2013/14 (HMRC, 2013). Thus, the couple can hold  £11,520 of the  £12,000 share value to exempt the capital gain from these shares from capital gain tax liability. This implies that only ( £11,520/  £1.50 = 7,680) share of the 8,000 will be held under the ISA. Thus, the capital gain that will be accumulated from the extra shares held outside ISA will be as computed below. Another strategy Bob can use to reduce the tax amount liability from the disposal of the shares is transferring the shares prior to ensuing disposal to his wife Isobel. This is because share transfers between civil partners do not carry gain or loss

Frederick Douglass on the Failure of Religion Essay

Frederick Douglass on the Failure of Religion - Essay Example Douglass criticized the mishandling and squandering of our forefathers commitment to liberty as generations lavished in the memory of the revolution without bearing the burden of its responsibility. He praises the principles of freedom, liberty, and morality that our nation was built upon. Yet, he uses the opportunity to remind his audience that liberty was a concept that been abandoned by its religious leaders, and for those left in bondage it was not a day to celebrate freedom, but a day to recognize the difficult road that lie ahead of all America. Douglass framed his speech with the understanding that there were two Americas. The two Americas were split by the deep foundation of liberty and the oppressive nature of slavery. Recognizing that the two could not exist as one, Douglass remarks on the division when he talks of, â€Å"†¦a sad sense of the disparity between us. I am not included within the pale of this glorious anniversary!†. Douglass lived in his America, where the Fourth of July was not a day of celebration, but a day to remember and honor those that were left behind in shackles. One of Douglass's main targets in his eloquent speech was religion and its failure to address the slavery issue. Douglass does not argue the merits and evils of slavery, but rather takes the stand that there can be no valid argument for slavery. He logically contends, "There is not a man beneath the canopy of heaven, that does not know that slavery is wrong for him". Slavery was a horrifying nightmare and Douglass's description shows it for the injustice it was. He makes no attempt to persuade the audience of its wrongs, but rather uses the opportunity to denounce the American religious community and their religious leaders for their engagement in slavery as well as their neglect of the issue. This was the greatest hypocrisy and the greatest threat to the liberty of all men that Douglass took aim at. His well founded, fiery words chastised religious leaders for wasting the religious freedom the nation had gained by turning their backs on the very tenets that Christianity was built on . The implications of the Compromise of 1850 were fresh on the mind of Douglass as he spoke of the legalized hunting of man that was known as the Fugitive Slave Law. He bemoaned the rewards that judges would reap by the successful consignment and return of fugitive slaves and decried the taking of men away from their wives and families to be ripped away and returned to a life of indentured misery. The Compromise had been a deal with the devil as the North sought to placate Southern discontent by condoning their excesses into the practice of slavery. Douglass drew a picture that portrayed America as the most immoral nation on earth and its abuses in excess of all others in the world. America's flawed reasoning of welcoming fugitives from all around the world and casting great honor on them as courageous men stood in sharp contrast to the treatment of the fugitives from American oppression that were are hunted down like common animals kidnapped, tortured, and murdered. He places the Fugitive Slave Law in its rightful historical perspective as he denounces it as being "In glaring violation of justice [] this Fugitive Slave Law stands alone in the annals of tyrannical legislation". Douglass's viewpoint was that never had mankind been so terrible and never had the church been so blinded by sin. Religion's failure to tackle and oppose slavery, and the Fugitive Slave Law, was seen by him to be the greatest blasphemy ever put forth. Douglass pleads with the audience to denounce slavery and rebuke the slave holders,