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HMRC internal manual

VAT Finance Manual

HM Revenue & Customs
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Glossary of terms: U

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.

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).

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.