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The Technical Connection Quiz: 19 December

To help you to keep up with the fundamentals of tax, retirement and financial planning, try answering these questions.

The following questions all relate to the Autumn Statement.

QUESTION ONE

From 6 April 2014, the standard personal allowance will be:

A) 10,000

B) 10,200

C) 12,000

D) 12,200

QUESTION TWO

From 6 April 2014, the final period of exemption for the purposes of private residence relief will reduce to how many months?

A) 12

B) 15

C) 18

D) 24

 

QUESTION THREE

From 6 April 2015, non-UK residents will be taxable on what?

A) Foreign currency

B) Sale of UK property

C) Sale of UK bonds

D) Sale of UK business assets

QUESTION FOUR

If the capital gains tax annual exemption is set at £11,100 for 2015/16, what is the minimum amount applicable to trustees where the same settlor has created a number of trusts?

A) £1,000

B) £1,100

C) £1,110

D) £1,111

QUESTION FIVE

From when will it be possible to transfer an existing child trust fund to a Junior Isa?

A) 6 April 2014

B) 6 April 2015

C) Following further consultation

D) No mention of this was made in the Autumn Statement

Questions supplied by Technical Connection 

Access full CPD, technical updates and business generation ideas throughTechlink Professional. Go to www.techlink.co.uk and click theContact Us link at the top of the screen and then request your free trial from the drop down menu.

_________

Answers

1 A
2 C
3 B
4 C
5 D

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