Deficit and Estate: Difference between pages

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=== Deficits in pensions accounting ===
1.  ''Assets - liabilities - tax - inheritance tax''.


The excess of liabilities over assets in a funded Defined benefit pension scheme; also known as under-funding.
All of the money and property owned by a person, net of their debts.


Especially on their death, and for the purposes of calculating related tax liabilities.


'''Example'''


Pension liabilities = 100.  
2. ''Law - land and buildings.''


Pension assets = 90.  
The nature, or length, of ownership rights - or other legal interests - in land and buildings.


The deficit would be:
For example, freehold or leasehold.


100 - 90


= 10. 
==See also==
*[[Assets]]
*[[Beneficiary]]
*[[Freehold]]
*[[Inheritance tax]]
*[[Law]]
*[[Leasehold]]
*[[Liabilities]]
*[[Money]]
*[[Property]]
*[[Real estate]]
*[[Tax]]
*[[Will]


(Not to be confused with the percentage ''funding level'' which in this example would be 90 / 100 = 90%.)
[[Category:Accounting,_tax_and_regulation]]
 
[[Category:Corporate_finance]]
 
[[Category:Identify_and_assess_risks]]
Relevant accounting standards include Section 28 of FRS 102.
[[Category:Investment]]
 
[[Category:Long_term_funding]]
 
[[Category:Manage_risks]]
=== Deficits generally ===
[[Category:Risk_frameworks]]
 
[[Category:Risk_reporting]]
More generally, a 'deficit' means any financial shortfall.
[[Category:The_business_context]]
 
 
== See also ==
* [[Amortisation]]
* [[Fiscal deficit]]
* [[FRS 102]]
* [[Funding level]]
* [[Multicurrency cross-border pooling]]
* [[Multicurrency one-country pooling]]
* [[Surplus]]

Revision as of 11:40, 10 September 2023

1. Assets - liabilities - tax - inheritance tax.

All of the money and property owned by a person, net of their debts.

Especially on their death, and for the purposes of calculating related tax liabilities.


2. Law - land and buildings.

The nature, or length, of ownership rights - or other legal interests - in land and buildings.

For example, freehold or leasehold.


See also

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