January 2010

Useful Information

Older exam guides are now available free from the CII website. Although some of the detail such as tax rates may be out of date, they still provide a value free resource.  You need to be a CII/PFS member and will need to log in.

Here is the link:

www.cii.co.uk/knowledge/examguides

The Pre-Budget Report - Special Annual Allowance Change

In December 2009, the Chancellor announced a consultation paper proposing changes to the planned anti-forestalling rules, due to come into effect in April 2010.  Coming into effect from the date of the Pre-Budget report, the ‘relevant income threshold’ was cut from £150,000 to £130,000 per annum.

People with relevant income of less than £130,000 pa will not be affected. Neither will people who have a pattern of existing normal ongoing pension savings (which will continue to be eligible for higher rate relief).

This could be examined in April 2010 although this is unlikely.

Diploma subjects affected: J04 with a minor effect potentially on J01 and J08