Death of a Salesman Essay Example | Topics and Well Written Essays - 1250 words - 1

Death of a Salesman - Essay Example Even from a cursory reading of the play, it is obvious that there is a battle going on inside Willy that deals with reality and fiction and even though Willy pretends to believe in the fiction it is reality which wins at the end. The play can be studied as a search for happiness which Willy is unable to find simply because his focus on making friends and his false belief in himself has led him to be a failure in life. The son, who Willy thinks will follow his footsteps, ends up taking his own path since his lack of faith in him is evident from the events of the play. In his mind, Willy believes himself to be successful and extremely popular as a salesman who has friends across the region and is well respected by others. This would have been true had he been a good performer in business and had made the money which would have given him the success he needed to be happy. In reality, he was nothing more than an average performer and had no more than one or two friends. He expected hundreds of people to be present at his funeral but a grad total of five showed up in a reality (Wikipedia, 2006). Of course, the death of a salesman or even a successful salesman is hardly expected to get news coverage even in this day and age. However, as we have seen on television, the media does cover the funerals of the rich and famous with thousands in attendance (Ross, 2007). Clearly, his imagined supremacy put him at a disadvantage since he was not really supreme in the real world. Willy failed at the American dream not because the dream is flawed, but because Willy could not work hard enough to get to the get rich part of the equation. As opposed to those people who do find happiness by working hard, getting rich and making a life for themselves, Willy lived a life of lies. He believed that his friend Charley and his son would not be successful since they did not have a ‘preset’ personality

Tax Advice Assignment Essay Example | Topics and Well Written Essays - 1750 words

Tax Advice Assignment - Essay Example Retaining GBP 30,000 per year in business Moving on to the first aspect, what are the major tax codes implied by the UK government. As with usual government practices across the globe, here too there is a (1) Corporation tax, (2) VAT, (3) PAYE (Pay As You Earn), (4) Self Assessment Tax, (5) Business rates tax, (6) Capital Gains Tax, (7) Stamp and Excise duties and (8) Industry specific tax. Before getting into these taxes, we need to understand the records to be maintained for an ongoing business concern or a proprietorship concern for that matter getting converted to a company format. These include: Business income records (record of sales) Business expenditure records (record of purchases and expenses) Financial and accounting records Employer records (payment to employees, benefits, IT , NIC) VAT records Formation of a company has major benefits in terms of liability of partners or shareholders as the business is treated as separate entity and hence there is no personal liability of any partner / shareholder towards creditors of the company. Corporate profits will be taxed at corporate tax rate of 28% and HM Revenue and Customs (HMRC) is responsible for Corporation Tax aspects. Upon intimation to Companies House, the same shall be provided to HMRC who in turn provides an introductory pack within six weeks containing CT 41G forms. Upon filling this form, the same has to be submitted to the CT Office and this information is used by HMRC to calculate CT and deadlines (Business Link, 2011). The corporation tax for small profit companies has been pegged at 20% as of 2011 (Business Link, 2011). VAT meaning Value Added Tax is charged by business houses on the goods and services provided. A VAT rate varies between 0-20percent in UK. The UK taxation laws provide options to reclaim VAT based on purchases made on goods and services, reclaiming VAT on Bad debts etc. (Business Link, 2011) a company/ partnership has to register for VAT if their taxable income is GBP ,64,0 00 a year . Some of the major benefits by incorporating a company will be : Company makes pension contributions promptly Claiming maximum possible expenses involved related to business as per UK legislation Capital allowances can be claimed if there is a capital expenditure incurred for the business. Ensuring benefits paid out in terms of medical and HRA if salary is less than GBP 26,000 per year. Surplus cash can be used as loan provided to business, on which interest can be earned and only needs to pay 10% tax on first GBP 10,000 taxable profits. If the same cash is maintained in personal account, then 40% tax on interest has to be paid. Hence, here there is a clear demarcation of 30% interest savings. There are options where no tax can be paid on certain income derived – expenses allocating to a particular income stream, eg: A Partner’s salary allocating to interest income, in such a way no tax need be required to be paid on the income generated. GBP 7500 capital ga ins tax free allowance. The firm need not pay National Insurance and is only liable to pay Corporation Tax at 10% on its profit slab upto GBP 10,000 and 20% on next slab level between GBP 50,000 – 300,000 after deducting all expenses including Director’s remuneration. By developing Company Pension Scheme and payment of dividend to its shareholders, the Corporation Tax can be reduced a great extent. (Form A Company, Worldwide Incorporations, 2011).at times, the management by taking a small pie as salary reap a major portion of