Moldova State University

Faculty of Economic Sciences

Individual Work
on specialised text translation

Done by: Railean Marionila,

gr. FB1603
Lecturer: Ciudin Galina, MA

Chiinu, 2016

Contents:
1. Text in English 3
2. Text in Romanian.... 6
3. Bibliography 9

How to start saving or investing into an Isa - the essential guide

to a tax-friendly pot

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Making the most of your annual Isa allowance is the cornerstone of wise saving and investing.
You'll pay less tax and your money will grow faster.
Here, we explain how to start using an Isa for your savings...
What are Isas?
Isas - or Individual Savings Accounts - are tax shelters into which savers can put a wide range of
investments, from cash to stocks and shares and unit trusts.
There's no income tax to pay on interest and no capital gains tax on profits. This makes them
ideal for long-term savings because money that is not taxed grows faster.
They're also good for retirement because any income taken from them is not taxed, so doesn't
have to be declared to the taxman.
There are two basic types of Isa - cash and investment (known as stocks and shares). You can
contribute a maximum of 15,240 this tax year, which ends on April 5 2016.
From the start of the next tax year on April 6, the new allowance will be the same, which you can
put with the same or a different Isa manager - whether it be a bank, building society or
investment company.
For the first time, youll also have the option to open an innovative finance Isa, that will enable
you to shield any returns you make from peer-to-peer investments from tax. Any money you
choose to put in this type of Isa will count towards your annual allowance and its up to you to
pick which Isas to pay into, and how much.
If you don't use your annual allowance in one tax year, you lose it forever. You cannot carry over
any unused portion to another tax year.
Every UK citizen aged 16 and over qualifies for a cash Isa allowance, though the minimum age
for an investment Isa is 18.
Theres also a childrens version of Isas available, called Junior Isas. These work in very similar
ways to adult Isas but with a lower allowance - 4,080 a year - and no access to the cash until a
child turns 18.
Even though Isa rates have fallen to record lows, it is important to top them up each year to
maximise the amount you can shield from the taxman.
Cash Isas
Until the end of the 2015/16 tax year, cash Isas should be the first port of call for every saver
who wants to make the most of their money and beat the taxman.
They protect your savings by paying tax-free interest, unlike most savings accounts where the
bank or building society deducts 20 per cent tax.
To put that into context, that means before you even see any interest on your hard-earned
savings, the Government pinches 20 per cent.
However, from the start of the new tax year on April 6 2016, the Government will introduce the
Personal Savings Allowance that it says will result in 95 per cent of savers no longer having to
pay any tax at all on the interest they earn from the money they squirrel away. In a nutshell,
basic-rate taxpayers will be able to earn savings income of up to 1,000 before they have to pay
tax on their returns, while higher-rate taxpayers will get 500 of savings income tax-free. Read
more about it here.

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The Isa allowance is separate to the Personal Savings Allowance, meaning Isa savers and
investors can benefit from even more tax-free returns.
Follow our easy steps to opening one:
1. Do your research
There are hundreds of cash Isas at banks and building societies, all with different terms and
conditions. Some offer easy access so you can get at your money whenever you need it. Others
pay a fixed rate if you leave a lump sum untouched for a year or more.
Some banks offer deals to new savers with an introductory bonus, but then cut the rate after a
few months or a year. Open these bonus accounts only if you are prepared to monitor your
interest rate and move your money. You are only allowed to open one new Isa each tax year but
you can also transfer existing savings to other Isa accounts.
Find the best Isa rate for you in our savings tables updated daily and our five favourite Isa list
updated when better deals become available:
2. How much do you want to save?
Each tax year you can save a set amount into a cash Isa, when this tax year ends and a new one
starts you can put more into it, or open another Isa and save into that. You can put up to 15,240
into a cash Isa in the tax years 2015/16 and 2016/17.
You can either put this money in as a lump sum, or save regularly into the Isa. Many fixed-term
Isas will only allow you to pay in once, other easy access Isas, or regular savers let you pay in
over a period of time.
3. Check for catches
Once you have chosen your Isa read the terms and conditions carefully. Are you trapped in a
variable-rate account where the bank can change the interest but you have to wait several weeks
or even months to get out? Will the rate tumble in a year? Are there charges for transferring
elsewhere or making withdrawals?
4. Get your documents ready
To open an Isa you need to provide certain identification. You need:
- Your National Insurance number - it's on your tax form or pay slip.
- Identification of who you are (a driving licence, passport, a letter relating to your pension or
HM Revenue & Customs Coding Notice) and where you live (a bank or building society
statement or utility bill - not a mobile phone bill - no more than three months old or your latest
council tax bill).
- For telephone or internet accounts, you have to send the above documents in the post.
5. Apply and don't delay
Every year savers end up in an Isa jumble as banks face a last-minute rush for account openings.
If you see an account you like then apply well before the deadline on April 5 - this lessens your
chance of missing out.
It's highly likely that your old Isa may no longer be up to scratch. Banks and building societies
tend to offer the best rates on new deals and let old ones slide.
Typically, an instant access account will drop below one per cent after a year.

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Once fixed-rate deals expire, the account is often flipped into an instant access deal. Many pay as
little as 0.1 per cent.
Find a new home for your Isa cash by hunting out a good rate that accepts transfers, then get
your cash moved. You do not have to make the transfer to the same Isa that you put this year's Isa
allowance into.
Investment Isas
How they work
With a stocks and shares Isa account you can hold stockmarket-type investments such as shares
and funds. The investments held within the account, as with a cash Isa, are allowed to grow tax-
free.
You can also have corporate bonds and gilts (government bonds) in an Isa account. Bonds pay a
fixed rate of interest and, if the company is sound, will pay the money back on a pre-agreed date.
The interest paid by the bonds is free of income tax if they are held in an Isa.
The tax incentive
Money put into an investment Isa also benefits from tax perks.
Capital Gains Allowance means outside an Isa, any investment gains over 11,100 in a year
could be taxed at 18 per cent or 28 per cent, depending on whether you are a basic- or higher-rate
taxpayer. However, from 6 April, these rates will reduce to 20 and 10 per cent respectively.
Remember, though, this means any gains below the 11,100 level are paid out free of tax
whether they're in an Isa or not.
Within an Isa there is no tax to pay on any profits when you sell. At all. You won't have to pay
any more tax on the income either. Outside an Isa, income on corporate bonds is taxed at 20 per
cent, 40 per cent or 45 per cent, depending on your tax status.
With dividends on shares, it works differently. Until 6 April 2016, some tax is deducted before
they are paid and this can't be reclaimed. But higher-rate tax payers avoid having to pay a further
25 per cent and additional-rate payers even more.
However, from the start of the 2016/17 tax year, the first 5,000 of dividend income earned by
shareholders each tax year will be tax-free. Above this, you will pay tax depending on your
income tax band. Basic-rate taxpayers will be charged 7.5 per cent on dividend income over and
above the allowance, while higher-rate taxpayers will incur a 32.5 per cent charge, and
additional-rate payers 38.1 per cent.

Cum s incepi s economiseti sau s investeti in Conturi de

Economii Individuale- ghidul esenial pentru un fond favorabil de
impozitare

Profitul la maximum de alocaia anual CEI constituie fundamentul economisirii nelepte i

investiiilor. Vei plti mai puin impozit i banii vor crete mai repede.
Aici, vom explica cum s ncepei utilizarea unui CEI pentru economiile tale...

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Ce este CEI?
CEI- sau Conturi de Economii Individuale- sunt adposturi fiscale n care deponenii pot pune o
gam larg de investiii, de la numerar la stocuri, aciuni i trusturi unitare.
Nu exist nici un impozit pe venit s plteasc dobnzi i nici un impozit pe ctigurile de capital
pe profit. Acest lucru il face ideal pentru economii pe termen lung, deoarece banii care nu sunt
impozitai cresc mai repede.
Acestea sunt de asemenea bune pentru pensionare, pentru c orice venit luat de la ei nu este
impozitat, deci nu trebuie sa fie declarate de inspectorul fiscal.
Exist dou tipuri de baz de CEI- numerar si investiii (cunoscut sub numele de stocuri i
aciuni). Putei contribui maxim 15240 in acest an fiscal, care se ncheie pe 5 aprilie n 2016.
De la nceputul urmtorului an fiscal la data de 6 aprilie, noua alocaie va fi la fel, pe care le
poate pune acelai sau un alt manager CEI- indiferent c este o banc, societate de credit ipotecar
sau o companie de investiii.
Pentru prima data, vei avea de asemenea, opiunea de a deschide finane inovatoare, care v
va permite s protejai orice profit pe care le facei din investiii de tip peer-to-peer de la plata
taxei. Orice sum de bani pe care o alegei s o punei n acest tip de CEI va conta pentru alocaia
anual si alegerea depinde de dvs. care CEI sa plteasca i ct.
n cazul n care nu utilizai alocaia anual ntr-un an fiscal, atunci ea se pierde pentru totdeauna.
Nu putei transfera orice poriune neutilizat n alt an fiscal.
Fiecare cetean britanic n vrst de 16 ani i peste se calific pentru o alocaie CEI, desi vrsta
minim pentru o investiie CEI este de 18 ani.
Exist de asemenea o versiune disponibil a CEI pentru copii, numit CEI Junior. Aceasta
funcioneaz ntr-un mod similar cu CEI pentru aduli, dar cu o alocaie mai mica- 4080 pe an
i nu are acces la bani pn cnd copilul nu atinge vrsta de 18 ani.
Chiar dac ratele CEI au sczut la nivele minime este important s le pui in vrf n fiecare an
pentru a maximiza suma care se poate proteja de inspectorul fiscal.

Banii CEI
Pn la sfritul anului fiscal 2015/16, numerarul CEI trebuie s fie primul punct de escal pentru
fiecare economisitor care vrea s profite la maxim de banii si i s depeasc inspectorul fiscal.
Ei v protejeaz economiile prin plata dobnzii pe impozit, spre deosebire de multe conturi de
economii in cazul n care banca sau societatea de credit imobiliar deduce taxa de 20%.
Totui, de la nceputul noului an fiscal la 6 aprilie, Guvernul va introduce Alocaia de
Economisire Personal care spune c 95% din deponeni nu vor mai fi nevoii sa plteasc orice
tax la tot pe interesul care l ctig din banii acumulai. Pe scurt, rata de baz a contribuabilor
va fi capabil s ctige venituri din economii de pn la 1000 nainte de a trebui s plteasc
impozit pe declaraiile lor, n timp ce cea mai mare rata a contribuabilor va fi de 500 din
economii. Citii mai multe despre aceasta aici.
Alocaiil CEI sunt separate de Alocaiile de Economisire Personal, ceea ce nseamn c
depondenii CEI i investitorii pot beneficia de mai multe declaraii fiscal gratuite.
Urmai paii notri simpli pentru a deschide unul:
1. F cercetare
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Sunt sute de numerare CEI de la bnci si societi de construcii, toate cu diferii termini i
condiii. Unele ofer acces uor astfel nct s putei obine bani de cite ori vei avea nevoie. Alii
pltesc o rat fix dac lsai o suma constant neatinsa pentru un an sau mai mult.
Unele bnci ofer oferte de la noi deponeni cu un bonus introductiv, ns apoi rata se taie dup
cteva luni sau un an. Deschidei aceste conturi de bonus doar dac suntei pregtit s
monotorizai rata dobnzii si s mutai banii. Se permite s deschidei un nou CEI n fiecare an
fiscal, dar v putei transfera de asemenea economiile dvs existente n alte conturi CEI.
2. Ct vrei s economiseti?
n fiecare an fiscal putei economisi o sum stabilit intr-un numerar CEI, cnd acest an fiscal se
termina i se ncepe altul nou, putei sa punei n acest cont sau s creai un cont nou i s salvai
in acela. Putei plasa pn la 15,240 ntr-un numerar CEI n anii fiscali 2015/16 i 2016/17.
Putei s punei aceti bani ntr-o sum constant sau s salvai regulat in CEI. Multe dintre
conturile CEI cu termen fix v permite s pltii doar o dat, ns alte CEI cu acces uor sau
deponeni regulai v permit s pltii ntr-o perioada de timp.
3. Verificai pentru capturi
Odat ce ai ales CEI-ul dvs, citii cu atenie termenii i condiiile. Eti prins ntr-un cont de rat
variabil n care banca poate schimba dobnda, dar tu trebuie s atepti cteva sptmni sau luni
ca s iei? Se va schimba rata ntr-un an? Exist taxe pentru transferuri n alt parte sau de a face
retrageri?
4. Opinei documentele
Pentru a deschide un CEI trebuie sa furnizai anumite indentificaii. Avei nevoie de:
-Numrul dvs de asigurare naional- este pe formularul fiscal sau pe cecul de plat.
-Identificarea cine suntei (permis de conducere, paaport, o scrisoare referitoare la pensie or HM
Revenue & Customs Coding Notice) i unde trieti (o declaraie bancar sau o societate pe
construcii sau o factur de utiliti- nu o factur de telefon mobil- nu mai veche de 3 luni sau cea
mai recent factur fiscal de la consiliu).
-Pentru conturile de telefon sau internet, trebuie s trimitei actele de mai sus prin pot.
5. Aplic si nu ntrzia
n fiecare an deponenii sfrsesc ntr-o ncurctur CEI, deoarece bncile se confrunt cu o grab
de a deschide conturi n ultimul minut. Dac vedei un cont ce v place, atunci aplicai mai bine
nainte de termenul limit la 5 Aprilie- aceasta va reduce ansa de a pierde.
Probabil c vechiul CEI nu mai poate fi de pn la 0. Bncile i societile pe construcii tind s
ofere cele mai bune rate pentru noile oferte i s le lase pe cele vechi.
De obicei, un cont de acces instant va scadea sub unu la suta dupa un an.
Odat ce ofertele cu rata fix expir, contul adesea este mutat ntr-o afacere de acces instanteneu.
Muli pltesc mai puin de 0.1%.
Gsete o nou cas pentru numerarul CEI urmrind o rat bun ce accept transferuri, pentru a
primi apoi banii mutai. Nu trebuie s facei transferuri ctre acelai CEI n care ai pus alocaia n
acest an.

Investiiile CEI
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Cum funioneaz
Cu aciuni i pri sociale ale contului CEI putei deine investiii de tip bursier, cum ar fi aciuni
i fonduri. Investiiile inute in cont, ca i cu numerar CEI, li se permite s creasc fr taxe.
Putei avea de asemenea obligaiuni corporative i bogii (titluri de stat) ntr-un cont CEI.
Obligaiunile pltesc o rat fix a dobnzii i n cazul n care compania este sigur, ea v va plti
napoi la o dat prestabilit. Dobnda pltit de obligaiuni este scutit de impozitele pe venit
dac acestea sunt deinute intr-un CEI.
Stimulentul fiscal
Banii pui intr-o investiie CEI de asemenea beneficiaz de avantaje fiscale.
Alocaiile Ctigurilor de Capital inseamn n afara unui CEI, orice ctiguri din investiii de
peste 11100 ntr-un an ar putea fi taxate cu 18 la suta sau 28 la suta, n funcie de dac suntei
contribuabil de baza sau superior. Cu toate acestea, de la 6 aprilie aceste rate se vor reduce la
20% i 10% respectiv.
Amintii-v, totui, acest lucru nseamn c orice ctiguri mai mici de 11.100 sunt pltite fr
a plti impozit dac acestea sunt ntr-un CEI.
n cadrul unui CEI nu exist nici un impozit ce s plteasc orice profit cnd vindei. Nu va
trebui s pltii mai mult nici un impozit asupra venitului. n afara unui CEI, venitul la
obligaiunile corporative sunt impozitate la 20 la suta, 40 la suta sau 45 la suta, in functie de
statutul fiscal.
Cu dividendele aciunilor acesta funcioneaz diferit. Pn la 6 aprilie 2016, unele impozite sunt
deduse nainte ca acestea sa fie pltite i acest lucru nu poate fi recuperat. Dar contribuabilii cu
rata mai mare evit s plteasc nca 25% i pltitorii pe rate suplimentare chiar mai mult.
Cu toate acestea, de la nceputul anului fiscal 2016/17, primii 5.000 din veniturile
din dividendele de ctre acionari n fiecare an fiscal vor fi scutite de impozit. Ct despre aceasta,
vei plati impozitele n funie de banda de impozit pe venit. Contribuabilii cu rata de baz vor fi
taxai cu 7,5% pe veniturile din devidentele care depesc alocaia, n timp ce contribuabilii cu
rata superioar vor suporta o tax de 38.1 %.

Bibliografie:
Daily Mail newspaper (money department)
English- Romanian Dictionary
www.thesaurus.com
www.merriam-webster.com
www.dictionary.cambridge.org

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