The author tells the history of the Freedman's Savings Bank, how it grew much too quickly, why it failed and the impact on Black America. The end of slavery in the United States left thousands of enslaved people with the need to survive the transition to freedom, including food, clothing, shelter, and medical care. They would also need education, money and financial services. In 1865 Congress passed legislation to create the Freedman's Bureau to provide those services. It also created the Freedman's Savings Bank. Large numbers of the formerly enslaved people had been paid for service in the Union Army - the first time many had cash. And they had no safe depository. The Freedman's Bank offered that, expanding quickly and gained millions in deposits - mostly ranging from $5 to $50. But inexperience and corruption doomed it to failure, costing may of the small depositors their savings. Some of the biggest issues facing Black consumers today may be able to trace their roots back to this debacle, from the historical distrust in banks to the racial wealth gap.

Why publish now?

On the heels of the social justice protests 0f 2020 and the Covid pandemic, some of the persistent and long-lasing problems facing Black Americans bubbled to the top. Black Americans suffered more than White Americans - they got sicker and died more frequently. In addition, they bore the brunt of the job losses economically and business failures.

White Americans (and many Black Americans) learned about how vibrant Black communities like Black Wall Street in Tulsa, Oklahoma, were burned to the ground by angry White mobs, destroying generational Black wealth. The racial wealth gap was pushed to the forefront of the debates.

Many of those issues in the wealth gap - including the distrust of Banks and the lack of generational wealth in the Black community can be traced back to the collapse Freedman's Savings Bank and the resulting loss of wealth and generational wealth in Black America.

This book will put the Freedman's Savings Bank in the conversation with reparations, Baby Bonds and financial literacy.

This handbook is a concise guide for all those who aim at obtaining a basic knowledge of European tax law. Designed for students, it should also be useful for experienced international tax specialists with little knowledge of European law, European law specialists who are reluctant to approach the technicalities of direct taxation and non-Europeans who deal with Europe for business or academic reasons and need to understand the foundations of European tax law. This book should also help academics without a legal background to approach the technical issues raised by European Union tax law.

This edition contains selected relevant information available as of 30 June 2022. It retains all of the features and tools contained in the previous editions (including the final charts, which our readers very much appreciate). In this edition we have also included a list of relevant documents and a selection of reference textbooks on European tax law in five languages, which we found of potential interest to our readers.

Provides a guide to the structure of the UK tax system, the interaction between UK and EU law, and its application to various classes of taxpayer, as well as explaining the roles of the government departments who administer it and the full range of taxpayers rights and obligations.

The fourth edition has been revised to cover the consequences of leaving the EU for the UK tax system and changes in loss and group relief rules. The book is for anyone studying the UK tax system, or advising on UK tax, from the experienced practitioner to the newly-qualified professional coming to tax advice for the first time, as well as being an ideal starting point for any students of the legal system or government.

Hetty Howland Green (1834-1916), born Hetty Howland Robinson, and known in her later years as The Witch of Wall Street, was born in the whaling town of New Bedford, Massachusetts to Quaker parents. This biography charts Hetty Green's extraordinary ascent up the pyramid of wealth to a point where, in the earliest years of the twentieth century, she was being identified as the richest woman in America.

Part of a series of brief biographies of significant tycoons, this is an insight into the life and methods of one of the earliest and most influential businesswomen in the US. It examines the source of her wealth, and her method of building upon that. It also profiles those who helped or thwarted her along the way.

130 pages. Includes a family tree, further reading, timeline and index.

The author looks beyond the caricature image of a person in the public eye and aims to reveal the actual person under consideration. Hetty's public image, in later years at least, possessed some elements of her true nature, but it omitted many important aspects that were obscure (or in some cases, even deliberately opaque, rendered so not least by Hetty herself, for reasons of her own). She was certainly no saint (as she herself would have been among the first to admit, though perhaps not the very first) but nor was she a financial demoness. She probably was, however, in her day the richest woman in America, and possibly in the world, possessing when she died a personal fortune of at least $100 million, most of which she had accumulated by herself.

Unlike many of the tycoons of her day, Hetty did not create vast new industries, or play a significant role in world events. The bulk of her fortune ultimately but quietly found its way into the coffers of various charities and she left no monuments to her memory such as the palatial mansions of the Vanderbilts or the well-endowed educational institutions of Andrew Carnegie. Instead, Hetty's life itself stands as her memorial, an example (admittedly a rare one) of a woman of the Victorian era steadily, methodically, even sometimes stubbornly, creating a multimillion fortune regardless of the views of others, and doing so in a world where many would have thought such a feat impossible, at least before Hetty achieved it.

Insurance Premium Tax is a guide for practitioners and those involved in the insurance industry. It summarises how the IPT is applied in practice, the definition of an insurance contract, looks at exemptions from the tax, the application of the higher rate and issues affecting non UK risks and global policies. It also explores compliance issues such as IPT registration, the submission of returns and payment of the tax, changes in rates and the penalty regime.

The major change that has taken place since the first edition has been the UK leaving the European Union. The author explains why this does not impact greatly on IPT, though it makes the discussion on the legality of the tax otiose.

In November 2020, HMRC announced a consultation on IPT. This looked at three main areas: unregistered insurers, some 'avoidance' structures involving administration fees and the administration of the tax. The author reports on the consultation and HMRC reaction to industry responses.

Implied Trusts and Beneficial Ownership in Modern UK Tax Law takes a look at that gap which lies between books on tax and those on trust law, and tries to bridge the two. How and why is beneficial ownership important in UK tax? How does HM Revenue & Customs and the law recognise the imposition of beneficial ownership for tax purposes via an implied trust? and when will UK tax law impose beneficial ownership on a different taxpayer from the legal owner of an asset or income source? As well as tracing the story behind Britain's ancient tax laws and courts, relevant legislation, cases and HM Revenue & Customs' guidance are all reviewed to paint a picture of how equity and implied trusts fit within today's tax laws. With the introduction of the 4th and 5th Anti-Money Laundering Directives, it is more important than ever to identify where beneficial ownership lies.

This book is ideal for academics and practitioners alike, looking at the history of equity law and the chancery court through a prism of taxation; as well as the practical application of beneficial ownership when considering a client's tax position. Those practitioners specialising in trusts should find this book an interesting and useful aid to supplement their knowledge of implied trusts and the relationship between the more-usual express trusts. Whether you are new to the tax profession, or a seasoned professional, there will be something here for everyone.

This book is intended to meet a range of different needs and to cater for different levels of knowledge about employee ownership. If you are considering making your company employee-owned or you are advising someone going through that process, and in either case are new to the topic, you can build up your knowledge levels from Chapter 1. Alternatively, the book can be used as a reference work if you have a particular question to answer.Some parts of the book will not be relevant to every reader. For example, several chapters consider how employees can acquire shares personally: these will not be relevant to companies which intend their employee ownership only to be through an employee trust. The book is intended as practical guide rather than a highly detailed technical treatise. Its priority is to explain key issues in an accessible fashion and to raise awareness of where further exploration and advice may be important.

UK Taxation for Students assumes absolutely no prior knowledge of UK taxation. It is completely self-contained covering the main areas of taxation studied at undergraduate level and initially for many professional exams. It can be used to support other texts and includes all the various allowances, tax rates etc. that a student may need at the front of the book.

It is written in a user-friendly manner, avoiding tax jargon and using, wherever possible, plain and straightforward English. It includes numerous examples throughout the text designed to illustrate particular points and then provides further examples for you to try in Appendix 2. Appendix 3 includes over 100 True or False questions for you to dip into at any time to test your understanding. Appendix 1 I contains suggested some tips for studying tax.

This book covers the main UK taxes; income tax (paid by individuals), capital gains tax (paid by individuals), corporation tax (paid by companies), value added tax (levied on consumers by businesses), inheritance tax (normally payable on the death of an individual) and National Insurance Contributions.

Although primarily aimed at students studying at undergraduate level, these are the taxes that typically form the core of the syllabus for most of the UKs professional examinations in taxation such as those of the ACCA, AAT and possibly ATT, although no specific professional syllabus has been followed.

In general, each of the chapters should be read through in the order that they are arranged as later chapters often assume knowledge from earlier chapters. Having said this, the Value Added Tax and Inheritance Tax chapters could be studied at any point, as a standalone as both are very different from the other taxes studied.

The Taxation of Small Businesses 2023-24 is a practical guide to all aspects of direct taxation of small businesses in one volume. It is ideal for sole practitioners and small partnerships, but will be a handy reference guide for all tax advisers. The book aims to give a clear explanation of the relevant legislation and practical advice on ways of minimising clients' tax liabilities and warning against common pitfalls.

The sixteenth edition has been updated to incorporate changes as a result of the Finance Act 2023.

UK Taxation for Students is a completely self-contained text (including at the front of the book all the various allowances, tax rates etc. that a student may need).

Fully updated for Finance Act 2020, including new capital allowance rules and emergency measures introduced as a result of COVID-19.

This book can be used either on its own or in conjunction with other texts. It is, however, completely self-contained. This book is written in a user-friendly manner. It includes over 180 worked examples plus true and false quizzes and a further 101 questions for readers. Complex jargon is avoided. Simple English is used. This book also assumes absolutely no prior knowledge about UK taxation. This book covers the five main UK taxes, namely, income tax (paid by individuals), capital gains tax (paid by individuals), corporation tax (paid by companies), value added tax (levied on consumers by businesses) and inheritance tax (normally payable on the death of an individual). National Insurance Contributions are also included.

Although this book is primarily aimed at students studying at undergraduate level, these are the taxes which typically form the core of the syllabuses for most of the UK's professional examinations in taxation such as those of the ACCA, AAT and perhaps for AAT.

This handbook is a concise guide for all those who aim at obtaining a basic knowledge of European tax law. Designed for students, it should be useful as well for experienced international tax specialists with little knowledge of European law, European law specialists who are reluctant to approach the technicalities of direct taxation and non-Europeans who deal with Europe for business or academic reasons and need to understand the foundations of European tax law. The authors also consider that this book can be useful to academics without a legal background in order to approach the technical issues raised by European Union tax law.

During the past two years the growing role of state aids and EU fundamental rights have confirmed the trend that steers them towards having an equivalent impact on direct taxation as compared to the one traditionally had by fundamental freedoms. The developments of secondary law have been more marginal instead, confirming the difficulties in producing secondary legislation on direct taxes.

This edition contains selected relevant information available as of 30 June 2020 and retains all of the features and tools contained in the previous editions.

The Taxation of Small Businesses 2022-23 is a practical guide to all aspects of direct taxation of small businesses in one volume. It is ideal for sole practitioners and small partnerships, but will be a handy reference guide for all tax advisers. The book aims to give a clear explanation of the relevant legislation and practical advice on ways of minimising clients tax liabilities and warning against common pitfalls.

The fifteenth edition has been updated to incorporate changes as a result of the Finance Act 2022. The tax advantages of incorporating a small business need weighing up carefully, and business owners need to decide whether or not the advantages outweigh the additional burden of compliance.

Major topics covered by the book include: taxation of business profits; taxation of employment; corporation tax; national insurance; capital gains tax; inheritance tax; and pensions.

VAT and Financial Services takes the reader through the relevant legislation and case law, the legal concepts such as time and place of supply, the distinction between goods and services, what is taxable, and the interaction of these elements; examines the consequences of outsourcing (through a detailed study of 10 significant cases); looks at the key issues facing financial services and insurance; and then discusses the VAT cost sharing exemption.

Since the third edition, there have been significant developments, including (most obviously) Brexit.

The key VAT change is that EU legislation is no longer primary legislation (although many EU VAT principles, obligations and rights have been 'retained') and ECJ court decisions are, in general, no longer binding although 'a court or tribunal may have regard to anything done on or after exit day by the European Court, another EU entity or the EU so far as it is relevant to any matter before the court or tribunal' (European Union (Withdrawal) Act, 2018 s6(2)). Also, the Court of Appeal decision in HMRC v Perfect [2022] EWCA Civ 330, which is an excise duty case but more widely applicable, confirmed that decisions from any referrals to the ECJ made before 31 December 2020 remain binding on the UK even if the decision is issued after that date.

In addition to this general change, there have been some more specific changes, for example the changes to the VAT (Specified Supplies) Order 1999, which now treats supplies to persons in the EU in the same way as supplies to persons outside the EU and some changes to the status of EU pension funds.

A further change has been to the status of Cost Sharing Groups, an arrangement that allows persons who carry on certain activities to form a group to share costs without creating sticking VAT. As Cost Sharing groups are no longer available to the financial services and insurance sectors, the chapter and appendix covering these have been removed from this edition.

Appendices include: contracts of insurance; Lloyd's VAT arrangements; HMRC ABI partial exemption guidance for the insurance sector; TOGC legal extracts; and the VAT territory of the EU.

Finance directors and finance controllers in the financial services and insurance sectors and at those who advise these sectors should all find the book helpful.

The Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. These are also included on a disk, so that practitioners can download and adapt the model documents for their own transactions.

Since January 2014 we have witnessed continued erosion of the powers of the tax evasion industry including a new Targeted Anti-Avoidance Rule (TAAR), increased penalties and new HMRC powers, major changes the taxation of UK property for non-UK residents and non-UK domiciles, and a recently introduced investors relief, similar to entrepreneurs relief but which is available to non-employees and directors. The book has been updated to reflect these developments.

The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business, enabling negotiations between tax advisors to keep sight of the commercial reality of the transaction (a sale by a willing seller to a willing buyer). The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called market practices.

The intended readership of the book is tax lawyers, tax accountants, corporate lawyers, corporate advisors and finance directors who are involved in the process of the sale of a company.

This edition contains an extended glossary, details of new investor relief schemes and changes in legislation as announced as at 15 September 2016.

Purchasing Contracts is intended to be of assistance to those whose work is with contracts for the procurement of goods and services rather than yet another contract law textbook.

This second edition contains additional chapters including one on the special rules governing purchasing by public bodies and utilities.

The subjects of misrepresentation, exemption clauses and electronic contracting are amongst those that have been updated and covered in more detail. The bill currently going through Parliament on bribery is also dealt with.

The main aim of this work is to provide comprehensive analysis of the Employment Related Securities (ERS) legislation at ITEPA 2003, Part 7, drawing on the legislation itself, HMRC guidance and the author's own thoughts and experience. The focus is on unlisted companies though the commentary is relevant to awards of ERS and ERS options in general.

Chapters 2 to 4 of Part 7 are principally anti-avoidance legislation applying to:

• Restricted or convertible securities
• Securities acquired for less than market value
• Securities disposed of for more than their market value
• Post-acquisition benefits connected with securities

Chapter 5 of Part 7 concerns ERS options, while the rest of Part 7 mostly contains the detailed rules relating to awards of shares and share options under the tax-advantaged employee share schemes: SIPs, SAYE options, CSOP and EMI.

A chapter of this work is devoted to each chapter of Part 7, again with the emphasis on unlisted companies where for example the restricted securities rules at Chapter 2 are highly relevant. Of the tax-advantaged share schemes, EMI (Enterprise Management Incentives) in Chapter 5, is mainly used by unlisted companies due to the financial and other limits applicable. Major coverage is therefore given to those chapters of Part 7.

However, this work would not be complete without also analysing other tax legislation relevant to ERS and ERS options in general, including:

• ERS as general earnings for income tax purposes
• The capital gains rules relevant to ERS and ERS options
• The corporation tax deduction for acquisitions of ERS
• PAYE and NICs aspects

Additional chapters of this work therefore cover those areas in some detail. A review of the decisions of the tax tribunals and courts concerning arrangements or 'schemes', aimed at avoidance of income tax and NICs involving ERS, also seems on-topic and merits a chapter of its own.

Part 7 is in parts complex and confusing legislation, but some understanding of which is essential for professionals advising companies of any size. The detailed commentary in this work aims to provide its target audience with as complete a guide as possible to both the technicalities and the practicalities involved in both the interpretation and the application of the ERS rules.

Insurance Premium Tax is a guide for practitioners and those involved in the insurance industry. It summarises how the IPT is applied in practice, the definition of an insurance contract, looks at exemptions from the tax, the application of the higher rate and issues affecting non UK risks and global policies. It also explores compliance issues such as IPT registration, the submission of returns and payment of the tax, changes in rates and the penalty regime.

Looking for the meaning of a tax term?

Leach's Tax Dictionary is a cornucopia of tax terms and data. It also explains all those abbreviations used in tax writing and reporting.

Leach's Tax Dictionary contains over 1,000 pages of definitions, abbreviations explained and useful data - tax rates and other information which may be of use to a tax accountant/lawyer.

• 10,000 definitions.
• 3,000 abbreviations explained.
• 200 pages of tax, financial and historical data related to tax.
• Where applicable terms are explained with reference to relevant case law, statutes or guidance.

This book provides a ready source of information to those who already have some understanding of tax, and for anyone working or studying in the tax field.

Purchasing Contracts is intended to be of assistance to those whose work is with contracts for the procurement of goods and services rather than yet another contract law textbook.

This second edition contains additional chapters including one on the special rules governing purchasing by public bodies and utilities.

The subjects of misrepresentation, exemption clauses and electronic contracting are amongst those that have been updated and covered in more detail. The bill currently going through Parliament on bribery is also dealt with.

This is an indispensable collection of statutory and non-statutory materials relating to charity law in England and Wales. This third edition is revised to coincide with the implementation of the UK's Charities Act 2011 - a major consolidation of the charity law. Charity Law Handbook is an essential reference source for charity and commercial lawyers, in-house lawyers, charities and voluntary organizations, and trustees. Statutes range from the Preamble to Charitable Uses Act 1601 to the Finance Act 2011. It also includes relevant provisions covering data protection, company law, gambling and lotteries, minimum wages, freedom of information, discrimination, tax, and VAT, along with a wide range of statutory instruments and the latest SORP (Statement of Recommended Practice) guidelines. The new UK legislation that came into force since the previous edition includes: Income Tax Act 2007 * Corporation Tax Act 2009 * Perpetuities and Accumulations Act 2009 * Academies Act 2010 * Bribery Act 2010 * Corporation Tax Act 2010 * Equality Act 2010 * Charities Act 2011 * Finance Act 2011. This third edition is also available on CD-ROM, making more than 2,000 pages of legislation and guidance portable and easy to search.