1. (a) Steve has been made redundant from a managerial positionin a bank in Jamaica where he had worked for the past fifteenyears. The benefits which formed part of his compensation packagewere a mortgage at 5% and a company vehicle which had cost$3,000,000 when it was new. His plan is to go into business as acomputer consultant working in Jamaica and the Eastern Caribbeancountries. He has to decide whether

a) to operate as a sole proprietor or

b) to incorporate and be a director or shareholder or

c) to operate in partnership with a former school friend or

d) set up in business in one of the Eastern Caribbeanislands

Prepare a memo to advise Steve on his options. He wishes to takeinto consideration the tax (corporate and individual) structure,available allowances, National Insurance/Social Security costs,VAT/GST arrangements and the economic development in the respectivecountries. You may refer to two of the Eastern Caribbeancountries.