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The Technical Quiz: 10 April

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

Question one

What is the current minimum age for a cash Isa?

A 7

B 12

C 16

D 18

Question two

Graham is a higher rate taxpayer. How much income tax would he save each year via an ISA rather than directly buying shares that pay an annual dividend of £450?

A £101.25

B  £112.50

C £146.50

D £180.00

Question three

Why might a basic rate taxpaying pensioner hold a UK equity income fund via an Isa rather than directly?

A To avoid inheritance tax

B To increase the dividend income

C To prevent loss of age allowance

D To minimise costs

Question four

An additional rate taxpayer would gain the greatest income tax benefits by holding which type of asset in an Isa?

A Corporate bond fund

B Emerging market fund

C FTSE index tracker

D Global equity fund

Question five

Cash interest on stocks and shares Isas was taxed at a rate of 20 per cent in 2013/14. What will be the rate on the New Isa from July 2014?

A 20%

B  10%

C  All interest in New Isas will be free of UK tax

D 18%

Scroll down for answers

Questions supplied by the CPD Centre. For more help keeping up to date with your technical knowledge go to

MM CPD Centre logo


1 C

2 B

3 C

4 A

5 C



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