The Tax on Your Salary - 2011-12. On January 9th 1799 the Prime Minister, William Pitt, introduced income tax to pay for the Napoleonic war at the swingeing rate of 0.83% for people earning Â£60 or more.
Basically, an ARM is a mortgage loan that has an interest rate that adjusts, or changes, usually once a year. The benefit of an ARM is that it generally gives you a lower interest rate initially. The risk is that the interest rate most likely will go up, which in turn will make your monthly payments rise.
ARM, the interest rate changes periodically, usually in relation to. an index, and payments may go up or down accordingly. To compare two ARMs, or to compare an ARM with a ï¬ xed-rate. mortgage, you need to know about indexes, margins, discounts, caps on rates and payments, negative amortization, payment.