The following questions all relate to investments.
QUESTION 1: In which circumstances can the 10% dividend tax credit be reclaimed?
A) If the client is a non-taxpayer
B) Where funds are held in an Isa
C) Where funds are held in a pension
D) It is not reclaimable
QUESTION 2: Bob has interest income of £2,000. If he were to receive rental income of £25,000, at what rate would it be taxed?
A) 10% and 20%
C) 20% and 40%
QUESTION 3: What is the maximum amount of capital which can be withdrawn from an investment bond on an annual basis without triggering an immediate tax charge?
QUESTION 4: How much can be contributed to a junior Isa?
A) £3,600 in the 2013/14 tax year
B) £3,600 from the date of the child’s birthday to the day before their next birthday
C) £3,720 in the 2013/14 tax year
D) £3,720 from the date of the child’s birthday to the day before their next birthday
QUESTION 5: Which of the following national savings products is taxable?
A) Income bonds
B) Children’s bonds
C) Premium bonds
D) Fixed interest savings certificates
Questions supplied by Technical Connection