SolvedVATFIN9700 | Glossary of terms: U
From HM Revenue & Customs · VAT Finance Manual
| Glossary term | Explanation |
|---|---|
| Under subscription | An issue of securities is undersubscribed when applications total less than the amount offered for sale or subscription. |
| Underwriting | An arrangement by which a company is guaranteed that an issue of shares will raise a given amount of cash. The underwriters undertake to subscribe for any of the issue not taken up by the public. They charge commission for this service. |
| Unit Stocking | There are two common meanings to this term, both connected with the provision of cars to dealers by Finance Houses: (a) The finance house buys the car from the manufacturer and makes them available to the dealer. The finance house retains title until a buyer is found, or the time limit expires. The dealer must then buy the vehicle(s); (b) The finance house makes a loan to the dealer to provide the funds required to buy vehicles from the manufacturer. |
| Unit Trust | A pooled fund held by trustees on behalf of investors. The unit trust buys and sells securities but does not sell its own units; this is done by the unit trust manager. |
| Unlisted / Unquoted Securities | Stocks and shares that are not officially listed or quoted on the London Stock Exchange. |