what is the main difference between a 'no-claim bonus' and a 'cash-back bonus'?
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The NCB can be transferred from one item to another in case of replacements, such as a vehicle. A cash back bonus is paid out after a set time period, ususally two to four years. A cash back bonus is potential cash in the pocket of the client, at a future date.
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A non-cash charge is a write-down or accounting expense that does not involve a cash payment. Depreciation, amortization, depletion, stock-based compensation, and asset impairments are common non-cash charges that reduce earnings but not cash flows.
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The difference between gross wages and net wages Non-tax deductions include health insurance premiums, garnishments and IRA contributions. Gross pay is the amount you are owed before taxes and other deductions. It is not the amount you are paid. ... Net pay is what you take home all after deductions have been made.
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The key difference between payback period and discounted payback period is that payback period refers to the length of time required to recover the cost of an investment whereas discounted payback period calculates the length of time required to recover the cost of an investment taking the time value of money into ...
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The most obvious difference is that a zero depreciation cover promises full settlement coverage; depreciation will not make a dent here. On the other hand, standard comprehensive cover—i.e a plan that does not offer zero depreciation—will make estimations based on the 'current value' of your vehicle.
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Every year you drive without claiming, the cost of your insurance for the following year is discounted. Unfortunately if your car is stolen and isn't returned by police, your no claims discount will suffer. Any time you are forced to make a claim to your insurer that results in a payout, your NCD will be affected.
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What's the difference between income protection and… Life insurance pays a lump sum of cash in the event you either pass away or are diagnosed with a terminal illness. ... Income protection covers you for time off work, where you receive a benefit for a period of time (or, in the case of some policies, a lump sum benefit).
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Companies low on cash may issue bonus shares rather than cash dividends as a method of providing income to shareholders. Because issuing bonus shares increases the issued share capital of the company, the company is perceived as being bigger than it really is, making it more attractive to investors.
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Policies that participate in the profit of an insurance company are called 'with profit' policies, while the policies on which the amount of bonus is fixed at the time of issue itself are called 'without profit' policies.
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The distinction is important because business income (or loss) gets included in income at 100%, whereas a capital gain (or loss) is only included in income at 50%. ... In other words, you would want to report losses on account of business, and gains on account of capital, to minimize your tax payable.
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A no-claims bonus (NCB), or no-claims discount, is a count of the number of years in which you haven't made a claim on your car insurance policy. The amount that its worth varies from insurer to insurer, but a NCB of five years or more, for example, is likely to give you a significant discount on your premium.
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Front pay and back pay are different forms of compensation. Back pay would be compensation for any wages they would have earned if they were not fired. ... But for front pay, the employee cannot be offered reinstatement or a similar position with the same employer for particular reasons.
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Your annual bonus, if you get one, is treated as if it's part of your normal wages. You'll pay tax and National Insurance on it through PAYE, in the usual way. ... They will then give you a new tax code estimating how much you get in tips each pay period, and taxes you on that amount.
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No claims bonuses can usually be transferred to another car, but if you switch insurers before the year is up, you won't get the NCB for that year. You can't use your no-claims bonus on more than one car. ... If it's not there, you can call your insurer and ask them to send it.
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If you get cash tips directly from a customer, you have to pay tax on them but not National Insurance. If you fill in a Self Assessment tax return, you have to include the tips on it. ... HMRC will give your employer a tax code so they can collect tax through Pay As You Earn ( PAYE ).
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NPV (Net Present Value) is calculated in terms of currency while Payback method refers to the period of time required for the return on an investment to repay the total initial investment. Payback, NPV and many other measurements form a number of solutions to evaluate project value.
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It depends on your personal situation whether it's worth protecting your no claims discount. If you have five years' no claims discount, it will significantly cut the cost of your car insurance. You could lose all that for just one accident. ... By protecting your no claims discount, you'll be locking in that discount.