We recommend this guide for anyone preparing for the CF2, R02, J06 or AF4 CII examinations. It may also be of assistance with other exams including the IFP Certified Financial Planner or Fellowship exams.
The majority of lump sum investments are still made using single premium life assurance bonds. Bonds can both defer and mitigate personal tax liabilities. Bonds have never been so popular now that marginal rates of income tax have increased to 50% and CGT at a potential 28%
How confident are you if you had to explain the personal taxation implications of chargeable events? Would your client be better with the partial surrender option even though it may be in excess of their 5% allowance or would the better option be to encash some segments or policies? Will the chargeable event be assessed in this current tax year or in the next tax year – this could be critical depending on the level of the client’s taxable income?
This guide is designed to improve the level of your knowledge in this important area so that you can genuinely add value through your advice, particularly when encashing all or part of an existing bond.
The contents of this guide include:
- Investment risk for with profits investors
- Chargeable events
- Taxation of gains on partial encashments
- Taxation of gains on full/total encashments
- Gains and the age allowance trap
- Second hand endowments
- Offshore policies
- Bonds in trust
- Practice case study
This guide is also included within our Investments Suite which is a cheaper way of buying three guides. The other two guides being Tax update and fixed interest securities and Collective investments.
We estimate that this individual guide takes approximately 10 hours of personal study
Title: Life Assurance Based Investment
Author: Sarah Dingley-Brown
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