This Easy Step Study Guide is essential reading for all financial advisers. At the very least an adviser should be able to ballpark a client’s “taxable income” to determine their marginal rate of income tax, the potential tax relief on pension contributions and the likelihood of personal tax liability on life assurance chargeable events.
The guide is essential for anyone preparing for the J01, R03, R06 or AF1 CII examinations. It may also be of assistance with personal taxation exams including the IFP Paraplanner, Certified Financial Planner or Fellowship exams where candidates frequently have to do a complete income tax computation.
The contents of the guide include:
- Listing non-savings income
- Listing savings income
- The taxation of dividends v “other” savings income
- Gains from chargeable events on life policies
- Allowable deductions from income
- Adjusted Net Income
- Personal allowances
- Taxable income
- Calculating total income tax bill
- Calculating final income tax payable
- Practice case study
This guide also forms part of the Tax and Trusts Suite.
We estimate that this individual guide takes approximately 10 hours of personal study
Title: Income Tax Calculations
Author: Sarah Dingley-Brown
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