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The Technical Quiz: 5 September

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

The Technical Quiz MM 480

The following questions all relate to investments.

QUESTION ONE: How much additional tax would a higher rate taxpayer have to pay on dividend income received?

A) 20%
B) 22.5%
C) 27.5%
D) 32.5%

QUESTION TWO: How would an investor be taxed on a unit trust holding?

A) Income tax on interest only
B) Income tax on interest and dividends only
C) Capital gains tax on realised taxable gains only
D) Income tax on interest and dividends and capital gains tax on realised taxable gains

 

QUESTION THREE: What rate of tax relief is available on investments in enterprise investment schemes or venture capital trusts?

A) 10%
B) 20%
C) 30%
D) 40%

QUESTION FOUR: Who can contribute to a child’s stakeholder pension?

A) Anyone
B) The person who set it up
C) Parents only
D) Parents and grandparents

QUESTION FIVE: How is a payment from the non-exempt element of a real estate investment trust treated?

A) As savings income
B) As property income
C) As dividend income
D) As tax free income

Questions supplied by Technical Connection

_________

Answers

1 B
2 D
3 C
4 A
5 C

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