A competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates. competitive market is one in which a large numbers of producers compete with each other to satisfy the wants and needs of a large number of consumers. In a competitive market no single producer, or group of producers, and no single consumer, or group of consumers, can dictate how the market operates.
Only when the annuitant begins to withdraw money from the annuity, he has to pay tax on his gains. Annuitiy holders must be advised of the risks of deferred income taxes when they agree to accept an annuity contract. In the event of the death of the annuitant, the beneficiary is subject to tax.
4. The new rules make it easier. If you die before the age of 75, the pension pot can be passed on tax free. If you die after 75, and your descendants want the whole pot as a lump sum, they will have to pay 45% tax, instead of 55% previously.f you die before the age of 75, the pension pot can be passed on tax free. If you die after 75, and your descendants want the whole pot as a lump sum, they will have to pay 45% tax, instead of 55% previously.