View more on these topics

The Technical Connection Quiz: 20 March

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 annual allowance.

Question one

What will the annual allowance be in 2014/15?

A) £250,000

B) £100,000

C) £50,000

D) £40,000

Question two

In the 2013/14 tax year, what is the earliest tax year when carry-forward can be utilised?

A) 2008/09

B) 2009/10

C) 2010/11

D) 2011/12

Question three

Other than active membership, which pension scheme membership(s) status will qualify an individual to utilise carry-forward?

A) Deferred member

B) Pensioner member

C) Pension credit member

D) All the above

Question four

If an individual has a total pension input amount that exceeds the annual allowance and has fully crystallised the carry-forward allowances, in which situation would the annual allowance charge not apply?

A) Member divorces

B) Member dies

C) Transfer of benefits to Qrops

D) Retirement in good health

Question five

Who is responsible for paying the annual allowance charge?

A) The member

B) The scheme administrator

C) The employer

D) All of the above

Questions supplied by Technical Connection 

Access full CPD, technical updates and business generation ideas through Techlink 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) D
2) C
3) D
4) B
5) A

Recommended

2

Carl Lamb: Small firms get a raw deal on auto-enrolment

The trouble with the Government’s new workplace pension regime is that the real winners are the pension scheme providers, which have been gifted thousands of potential new pension investors. Sadly, the losers are the small and medium-sized business owners who want to do right by their employees. We have clients whose staging dates are not […]

Accounts-Paperwork-Financial-Corporate-Business-700x450.jpg

Advisers slam lenders’ MMR affordability checks on protection premiums

Advisers have branded a move by lenders to include protection premiums in affordability checks under the mortgage market review as “illogical”. Santander, Nationwide, Virgin Money and Newcastle Building Society have said items such as life cover premiums, pension contributions and student loan repayments will be included when assessing a borrower’s affordability. Other lenders are expected […]

2014-Budget-George-Osborne-Walking-700.jpg
1

Budget 2014: Income tax personal allowance increased to £10,500 next year

The Government is raising the income tax personal allowance to £10,500 next April. Delivering his Budget today, Chancellor George Osborne said the personal allowance will rise further than the £10,000 next month. The 40p income tax threshold will also rise from £41,450 to £41,865 this year and £42,285 next year. At its conference in Glasgow last […]

Nic-Cicutti-MM-Peach-300.png
2

Nic Cicutti: Hoban doth protest too much

Many years from now, long after Iain Duncan Smith is departed from his ministerial labours, what will the world say about him? Will he be lauded as the person who – virtually single-handedly – managed to reform the UK’s welfare system and make working for a living worthwhile again for hundreds of thousands of people previously […]

Martin Foden discusses how convenience is affecting the construction of fixed income portfolios

In this short video, Martin Foden, head of credit research at Royal London Asset Management, discusses how convenience is affecting the construction of fixed income portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com