Learning resource updates
This page details updates made to our learning resources. You should visit this page periodically to ensure you do not miss any updates. Updates can result from a change in exam syllabus, an amendment to the relevant CII study text directly affecting our resources, typographical errors or more complex issues.
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- AF Exam Updates 2024-25
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- ER Exam Updates 2024-25
- FA Exam Updates 2024-25
- IF Exam Updates 2025
- J0 Exam Updates 2024-25
- LP Exam Updates 2024-25
- R0 Exam Updates 2024-25
All resources for IF1, IF2, IF3, IF4, and IF5 have been updated in accordance with the new syllabus examinable from 1 January 2025.
All resources for AF, CF, ER, FA, J0, LP, and R0 have been updated in accordance with the new syllabus examinable from 1 September 2024. If you purchased the 2023/24 versions, contact us to receive the updated versions free of charge*. Note that E-Mocks have been updated on our website, and the material found there now reflects the new examinable tax year.
*Note this does not apply to: IF exams whose examinable year ends on 31 Dec; the E-Mocks, which have their own subscription period; those resources which have been discontinued; or our R06 and AF5 analysis products.
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1CalcWkbk010924v5
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1CalcWkbk010924v4
12 September 2024 Section 2 – National Insurance Contributions – Page 50, Question 8 – Answer has been amended to £722. The detailed explanation has been amended to: For individuals who are both employed and self-employed, class 4 NICs are limited to the maximum for class 4 (£50,270 – £12,570 @ 6% = £2,262.00) less the main rate class 1 NICs paid.
£2,262.00 – £1,540 = £722.
New Version: AF1CalcWkbk010924v3
30 August 2024 Section 1 – Income Tax – Question 8 – Detailed Explanation – ‘Jackson is also entitled to a £1,000 dividend allowance.’ has been amended to read ‘Jackson is also entitled to a £500 dividend allowance.’
Section 6 – Taxation of Investments – Question 21 has been amended on pages 23 and 105 to read “What is the total unused annual allowance Simon can carry forward to 2024/25?” The answer on page 105 has been corrected to read £56,000.
New Version: AF1CalcWkbk010924v2
15 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1Set1010924v2
15 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1Set2010924v3
4 September 2024 In Model Question 1, page 12, the answer to part (i) was omitted; this has been rectified. Please contact our customer service team to request your updated copy.
New Version: AF1Set2010924v2
15 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1Set3010924v2
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1RevisionNotes010924v3
15 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1RevisionNotes010924v2
17 February 2025 Page 58 – In the first table, the fourth bullet under ‘Contracts’ has been amended to read ‘Contract with a minor usual unenforceable’.
New Version: AF1Wkbk010924v4
30 January 2025 The answers to questions on page 47 have been added in on page 107, as they had previously been omitted. These answers have also been updated in line with CGT rates from Autumn budget. Please contact our customer service team to request your updated copy.
New Version: AF1Wkbk010924v3
15 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF1Wkbk010924v2
20 March 2025 In Section A, Question (c) part (iii), the question has been amended to ‘Calculate, showing all your workings, the price earnings (P/E) ratio of Dazzled (using the current share price worked out using figures from (ii).’
In the model answer for Question 1 part (c)(ii), the last line has been amended to ‘Expected value of Dazzled share = £4.94’
A note has been added as follows: ‘Gordon’s growth model takes into account the expected dividend growth of 3%. This is a projected share price in one year’s time.’
In the model answer for Question 1 part (c)(iii), the following note has been added after the calculation: ‘To take the effect of rising dividends out of the share price to give us the price today, we multiply 494.40 x 0.97 = 479.56 rounded up to £4.80.’
New Version: AF4Set1010924v2
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: AF4RevisionNotes010924v3
25 February 2025 Due to a change in the CII Study Text regarding the new PTM levy, on Page 27, under ‘Cost of Buying/Selling Shares’, the last second-level bullet has been changed to:
‘Panel on Takeovers & Mergers levy – flat charge of £1 (£1.50 from 2 December 2024) on all trades over £10,000’
New Version: AF4RevisionNotes010924v2
11 February 2025 Exam Sitting
7 February 2025 The following amendments have been made to the fact-find analysis:
On Page 25, in the section ‘Use fixed-interest funds’, the first bullet point has been amended to:
‘Sylvia can use 0% starting rate for savings on interest if her holding in fixed-interest is over 60%.’
On Page 39, the last bullet point before the Top Tip has been amended to ‘Increases net income by £252.’
New Version: AF5Analysis110225v2
17 September 2024 Exam Sitting
13 September 2024 The following amendments have been made to the fact-find analysis:
On page 37, in the question ‘Explain how any gains would be taxed if Tom were to fully surrender the investment bond.’, the fifth bullet:
• This prevents gain falling into additional-rate tax band/and falling into personal allowance trap.
has been deleted and the following bullet points have been added:
• The full gain is added to adjusted net income for the purposes of working out if he falls into the personal allowance trap (i.e. his adjusted net income is over £100,000) and if he will become an additional-rate taxpayer.
• Top sliced gain is used for the purposes of calculating Tom’s personal allowance within the top-slicing calculation.
In the technical note on the same page, the following paragraph has been added:
However, outside of the top-slicing calculation, it is the full gain that is added to adjusted net income for the purposes of working out if he falls into the personal allowance trap (i.e., his adjusted net income is over £100,000) and if he will become an additional rate taxpayer.
New Version: AF5Analysis170924v2
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax that came into effect from 1 April 2025 as a result of the Autumn Budget. Section 5 – in the end of section questions, the answer to Question 3 is now:
‘• Extra 5% on Stamp duty land tax for second properties/buy to let properties over £40,000
• Income Tax relief on mortgage interest payments at basic rate only’
New Version: AF5RevisionNotes010924v3
16 January 2025 Due to a change in the study text, on page 41, in ‘Buy-to-Let’, the second bullet point has been amended to:
‘Impacted by Government attempts to improve situation for first-time buyers – 5% SDLT surcharge (3% prior to 31 October 2024), basic rate tax relief only on mortgage interest payments’
On page 50, in ‘Collectives’, the second bullet point has been amended to:
‘Can use CGT annual exempt amount then taxed at 18% or 24% (10% or 20% for gains before 30 October 2024)’
New Version: AF5RevisionNotes010924v2
29 October 2024 Section 3 – Question 18 – Answer and Explanation have been changed to:
Answer
- £30,000 x 25% = £7,500 tax free
- £12,570 x 1/12 = £1,047.50
- £37,700 x 1/12 = £3,141.67 x 20% = £628.33
- (£125,140 – £37,700) x 1/12 = £7,286.67 x 40% = £2,914.67
- £22,500 – (£1,047.50 + £3,141.67 + £7,286.67) = £11,204.16 x 45% = £4,960.87
- £30,000 – £8,503.87 = £21,496.13 net payment
Explanation
£30,000 x 25% = £7,500 paid tax free
The balance of £22,500 is subject to PAYE on a month one basis.
Personal allowance of £12,570 x 1/12 = £1,047.50 with no tax deducted
Basic rate band of £37,700 x 1/12 = £3,141.67 of the payment is taxed at 20% = £628.33
Higher rate band of £125,140 – £37,700 x 1/12 = £7,286.67 of the payment taxed at 40% = £2,914.67
Balance of the payment £22,500 – (£1,047.50 + £3,141.67 + £7,286.67) = £11,204.16 is taxed at 45% = £4,960.87
This means that £8,503.87 is deducted from the UFPLS leaving a net payment of £21,496.13
New Version: AF7CoreKnowledge010924v2
5 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: AF7Set1010924v2
5 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: AF7Set2010924v2
5 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: AF7Set3010924v2
5 April 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: AF7MockTaster
30 March 2025 Improvements have been made to this resource to further support your learning. Also, due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025, as a result of the Autumn Budget.
22 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget.
30 March 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: CF1Set1010924v2
30 March 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: CF1Set2010924v3
3 February 2025 The Correct Answer Rationale for Question 27 has been amended to read 50-60%.
New Version: CF1Set2010924v2
30 March 2025 Improvements have been made to this resource to further support your learning. Also, due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025, as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF1Set3010924v2
19 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF6CalcWkbk010924v3
3 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF6CalcWkbk010924v2
19 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please click here to download an updated copy.
File Name: CF6CalcTaster
18 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF6Set1010924v3
3 February 2025 Due to a change in the CII Study Text, the answer to Question 47 has been amended to ‘D’.
New Version: CF6Set1010924v2
18 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF6Set1010924v2
18 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF6Set3010924v3
3 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: CF6Set3010924v2
18 March 2025 Due to a change in the CII Study Text, Question 10 has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025, as a result of the Autumn Budget. The question stem now reads: ‘Joe purchases his first home for £375,000. What rate of Stamp Duty Land Tax must he pay?’ Option A is now: ‘0% of the amount up to £300,000 and 5% on the amount over £300,000.’
File Name: CF6MockTaster
1 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: CF8Set1010924v2
1 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: CF8Set2010924v2
1 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: CF8Set3010924v2
1 April 2025 Improvements have been made to this resource to further support your learning. Please click here to download an updated copy.
File Name: CF8MockTaster
26 March 2025 Due to a change in the CII Study Text, Question 45 has been amended to:
‘Pete is considering trading down rather than equity release. If he sells his current property for £850,000 and buys a smaller property for £350,000, how much stamp duty land tax will he have to pay?
A. £5,000
B. £7,500
C. £8,250
D. £25,000’
The answer is now B.
New Version: ER1Set3010924v3
5 February 2025 Question 72 has been updated. The answer is D, not A.
New Version: ER1Set3010924v2
23 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget.
23 January 2025 Due to a change in the CII Study Text, Question 16, Options A and B have been changed to:
A. Capital Gains Tax of 18%
B. Capital Gains Tax of 24%
New Version: FA1Set1010924v2
26 February 2025 Question 4 – Stem amended to include correct tax year. It now reads:
‘Jenny earns £40,000 a year and has triggered the money purchase annual allowance. This means that for the 2024/25 tax year, the maximum tax relievable contributions she can make into a defined contribution scheme is’
Option D has been amended to: ‘£60,000’
The answer is now ‘C’; the reference has been amended to Chapter 2, Section D3
New Version: FA2Set3010924v2
4 November 2024 Question 9, Option B has been changed to ‘those in non-pensionable employment.’; Question 15, Option D has been changed to ‘once he has paid his first premium, he will only be able to change the amount once in each policy year.’
File Name: FA2MockTaster
3 February 2025 Due to a change in the CII Study Text, on Page 5, Question 3, the date in the second sentence has been changed to ‘January 2025’. On Page 6, in the Model Answer for Question 3, the last bullet point has been changed to ‘The gain minus the exempt amount is chargeable at 24% ‘
File Name: J02MockTaster
3 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: J02RevisionNotes010924v2
17 February 2025 Page 58 – In the first table, the fourth bullet under ‘Contracts’ has been amended to read ‘Contract with a minor usual unenforceable’.
New Version: J02Wkbk010924v3
3 February 2025 The answers to questions on page 47 have been added in on page 107, as they had previously been omitted. These answers have also been updated in line with CGT rates from Autumn budget. Please contact our customer service team to request your updated copy.
New Version: J02Wkbk010924v2
17 April 2025 Page 17, Detailed explanation amended to read £41,000 instead of £21,000
New Version: J05CalcWkbk010924v3
12 December 2024 This resource has been amended to include a section on ‘Lump Sum Allowance and Lump Sum Defined Benefit Allowance’. Please contact our Customer Service team to request an updated copy of this resource.
New Version: J05CalcWkbk010924v2
12 December 2024 This resource has been amended to include a section on ‘Lump Sum Allowance and Lump Sum Defined Benefit Allowance’. Please click here to download an updated copy of this resource.
File Name: J05CalcTaster
3 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J05Set1010924v4
20 January 2025 In the answer to Question 1, the last line should read ‘Amanda’s LSA = £268,275 – £60,361.87 = £207,893.13’
New Version: J05Set1010924v3
31 October 2024 Question 8(b) has been amended:
State the options for distributing the residual fund if Duncan dies after his 75th birthday and outline how this will be taxed.
Model Answer:
- If Duncan dies over 75 if return of fund paid directly to the beneficiary, it will be taxed as their pension income under PAYE
- Dependants’ pension or flexi-access drawdown taxed as recipient’s income
- No RBCE/LSDBA test as over 75
- No PCLS able to be taken
- Charity lump sum death benefit tax free
New Version: J05Set1010924v2
3 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J05Set2010924v3
31 October 2024 Question 10(a) has been amended:
State the conditions for the administrator to pay a serious ill health lump sum payment and outline how this would be taxed.
Model Answer:
- The scheme administrator must obtain evidence from a medical practitioner
- That life expectancy is less than one year before the payment is made
- All the EPP must be taken as a serious ill health payment
- Free of tax up to her lump sum and death benefits allowance
- The excess will be subject to income tax
New Version: J05Set2010924v2
3 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J05Set3010924v3
31 October 2024 Model Answer to Question 4 – last bullet point has been changed to:
- Taxed as income if paid post-75 or exceed lump sum and death benefits allowance
Model Answer to Question 9(c) has been changed to:
- The uncrystallised fund and any FAD fund can be returned tax-free.
- Uncrystallised funds potentially subject to LSDBA if paid out as a lump sum.
- It could be used to buy a dependant’s annuity or a dependant’s flexi-access drawdown.
- Income from these would be tax-free.
- Benefits from the annuities would depend on the options that were chosen at time of purchase.
New Version: J05Set3010924v2
3 April 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: J05MockTaster
17 April 2025 Page 61, Answer to Question 4, first bullet point amended to read LSDBA (not LSA)
New Version: J05RevisionNotes010924v4
16 January 2025 Due to a change in the CII Study Text, page 104 and 107 – SDLT rates on second homes have been changed to additional 5% from 3%.
New Version: J05RevisionNotes010924v3
31 August 2024 A new section ‘The Lump Sum and Death Benefits Allowances’ has been added after Lifetime Allowance (LTA) as Section 3, and all other section numbers have been increased by 1.
Page 6, in Transitional Protection, the last paragraph now reads ‘See Section 4 for detailed information on the pension commencement lump sum (PCLS) and uncrystallised funds pension lump sum (UFPLS).’
Page 8, the paragraph after ‘Commutation on winding up’ now reads ‘See Section 5 for detailed information on the annual allowance and money purchase annual allowance.’
New Version: J05RevisionNotes010924v2
6 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J10CalcWkbk010924v2
6 April 2025 Improvements have been made to this resource to further support your learning. Please click here to download an updated copy.
File Name: J10CalcTaster
7 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J10Set1010924v3
3 February 2025 Due to a change in the CII Study Text, Question 7 has been amended. Option A now reads: ‘she will be liable to 24% CGT on disposal.’
New Version: J10Set1010924v2
7 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J10Set2010924v4
3 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: J10Set2010924v3
2 January 2025 Question 73 – Option C now reads ‘EezeFuel is creating more growth for its shareholders compared to Dazzled.’ This is now a correct option. Rationale updated to read ‘EezeFuel offers higher growth due to a 4% dividend growth rate (vs. Dazzled’s 3%) and a larger increase in projected EPS. Eezefuel has more shareholders than Dazzled.’
New Version: J10Set2010924v2
7 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J10Set3010924v3
3 February 2025 Due to a change in the CII Study Text, Question 11 has been amended to:
‘Philip and Janie are both basic-rate taxpayers. In January 2025, they made an investment in a Real estate investment trust (REIT). When advising them on the tax position, you can tell them that
A. any gains they make will be free of Capital Gains Tax.
B. any dividends they receive will be free of Income Tax.
C. any gains they make are subject to a special rate of Capital Gains Tax at 10%.
D. dividends are taxed at 8.75% after any available dividend allowance.’
New Version: J10Set3010924v2
6 March 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J10RevisionNotes010924v3
3 February 2025 Due to a change in the CII Study Text, on Page 60, in the left column of the ‘Taxation’ table, the first bullet point under ‘For Investor:’ has been amended to: ‘Gains subject to CGT – 18% or 24% (10% or 20% for gains prior to 30 October 2024)’
New Version: J10RevisionNotes010924v2
6 March 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: J10RevisionNotesTaster
7 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J12Set1010924v2
7 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J12Set2010924v2
7 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: J12Set3010924v2
23 January 2024 Due to a change in the CII Study Text, the correct answer rationale for Question 15 has been amended to: ‘Capital gains can be offset against permitted losses. The annual exempt amount cannot be carried forward. Basic-rate taxpayers are usually subject to CGT on investments at 18% (10% for disposals before 30 October 2024) and additional-rate taxpayers at 24% (20% for disposals before 30 October 2024).’
File Name: J12MockTaster
27 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget.
19 February 2025 This resource has been updated with the new PTM levy of £1.50 (previously £1).
23 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget.
23 January 2025 Due to a change in the CII Study Text, Question 18, Options B and D have been changed to:
B. Capital Gains Tax at the rate of 18%.
D. Capital Gains Tax at 24%.
New Version: LP2Set1010924v2
19 February 2025 Due to a change in the CII Study Text regarding the new PTM levy of £1.50 (previously £1) , the options in Question 46 have been amended to:
‘A. 1.5% on all trades over £10,000.
B. 1.5% on all trades.
C. £1.50 on all trades over £10,000.
D. £1.50 on all trades. ‘
The correct answer rationale has been amended to:
‘The Panel on Takeovers and Mergers (PTM) Levy is £1.50 on all trades (purchases and sales) over £10,000. Prior to 2 December 2024, it was £1.’
New Version: LP2Set2010924v3
23 January 2025 Due to a change in the CII Study Text, Question 24, Option B has been changed to: ‘Capital Gains Tax at 24%.’
New Version: LP2Set2010924v2
31 March 2025 Question 63 – Correct Answer Rationale updated to read ‘lump sum allowance’ rather than ‘lifetime allowance’
New Version: LP2Set3010924v4
27 March 2025 Due to a change in the CII Study Text, the correct answer rationale for Question 47 has been amended to: ‘If an individual is buying a second property, a 5% surcharge (3% for sales prior to 31 October 2024) is added to the standard rate. Properties worth under £125,000 are normally liable to SDLT at 0%, therefore the charge for a £100,000 property is 5%, i.e. just the surcharge.’
New Version: LP2Set3010924v3
23 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: LP2Set3010924v2
6 April 2025 Improvements have been made to this resource to further support your learning.
6 April 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: R01HowToPassGuide
6 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R01Set1010924v2
6 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R01Set2010924v2
6 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R01Set3010924v2
6 April 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R01RevisionNotes010924v2
6 April 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: R01RevisionNotesTaster
26 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R02CalcWkbk010924v4
27 February 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R02CalcWkbk010924v3
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R02CalcWkbk010924v2
27 February 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: R02CalcTaster
26 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget.
13 February 2025 Question ID 011R02EMS1 – Option C has been amended to ‘share B will provide better returns than A.’ Question ID 013R02EMS1 – Option C has been amended to ‘it is a flat rate charged on sales over £1,000.’ The correct answer rationale has been amended to ‘The PTM levy is a flat fee applied to all trades of £10,000 and over to generate income for the Panel on Takeovers and Mergers.’ Improvements have been made to this resource to further support your learning.
23 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget.
23 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Click here to download an updated copy.
File Name: R02HowToPassGuide
26 March 2025 Due to a change in the CII Study Text, Question 16’s stem has been amended to ‘First-time buyers Sarah and Ian are purchasing their new home for £260,000; what rate of Stamp Duty Land Tax is payable?’ The correct answer rationale has been amended to ‘First-time buyers pay no SDLT on the first £300,000 of the purchase price.’
New Version: R02Set1010924v5
13 February 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R02Set1010924v4
23 January 2025 Due to a change in the CII Study Text, the correct answer rationale for Question 80 has been amended to ‘Residential property became popular when returns on other asset classes fell making rental yields appear more attractive and also for the prospect of capital growth. Stamp Duty Land Tax has increased (to 5% above standard rates, 3% prior to 31 October 2024) for buy-to-let properties and CGT cannot be deferred so answers (c) and (d) are drawbacks of residential property investment.’
New Version: R02Set1010924v3
18 November 2024 Question 31 Correct Answer Rationale – second sentence now reads:
Therefore, Jackie needs to invest £10,000 / (1 + 0.05)6 = £10,000 / 1.056 (To calculate 1.056, use the xy function on your scientific calculator). Therefore PV = £7,462.15
New Version: R02Set1010924v2
13 February 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R02Set2010924v3
23 January 2025 Due to a change in the CII Study Text, Question 54 has been amended to:
Sabina is a higher rate taxpayer and in February 2025 made a profit from her successful use of qualifying corporate bonds futures and options contracts. In terms of the Capital Gains Tax (CGT) position, she will
A. pay CGT at the rate of 20%.
B. not be chargeable to CGT.
C. be able to defer the gain as they were qualifying bonds.
D. pay CGT at the rate of 24%.
New Version: R02Set2010924v2
26 March 2025 Due to a change in the CII Study Text, the second sentence in Question 15’s correct answer rationale has been amended to ‘First time buyers pay no SDLT on the first £300,000 of the purchase price, however no relief is available where the total purchase price is more than £500,000.’ The correct answer rationale for Question 16 has been amended to ‘SDLT is charged on the net present value (NPV) of rent payable on a lease. However, if the NPV of the rent is not more than £125,000 for residential property no SDLT is charged.’
New Version: R02Set3010924v4
13 February 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R02Set3010924v3
23 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R02Set3010924v2
26 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R02RevisionNotes010924v5
6 March 2025 Improvements have been made to this resource to further support your learning. Please contact our customer service team to request your updated copy.
New Version: R02RevisionNotes010924v4
31 January 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R02RevisionNotes010924v3
19 November 2024 This resource has been amended to include a section on ‘Economic Environment’. Please contact our Customer Service Team to request an updated copy of this resource.
New Version: R02RevisionNotes010924v2
6 March 2025 Improvements have been made to this resource to further support your learning. Click here to download an updated copy.
File Name: R02RevisionNotesTaster
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R03CalcWkbk010924v5
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R03CalcWkbk010924v4
12 September 2024 Section 2 – National Insurance Contributions – Page 50, Question 8 – Answer has been amended to £722. The detailed explanation has been amended to: For individuals who are both employed and self-employed, class 4 NICs are limited to the maximum for class 4 (£50,270 – £12,570 @ 6% = £2,262.00) less the main rate class 1 NICs paid.
£2,262.00 – £1,540 = £722.
New Version: R03CalcWkbk010924v3
30 August 2024 Section 1 – Income Tax – Question 8 – Detailed Explanation – ‘Jackson is also entitled to a £1,000 dividend allowance.’ has been amended to read ‘Jackson is also entitled to a £500 dividend allowance.’
Section 6 – Taxation of Investments – Question 21 has been amended on pages 23 and 105 to read “What is the total unused annual allowance Simon can carry forward to 2024/25?” The answer on page 105 has been corrected to read ‘Simon has been a member of a pension scheme since July 2021 and has not been subject to the tapered annual allowance in any year.’ The years have been amended to 2021/22, 2022/23, 2023/24. The amounts in the carry forward column are: £15,000; £10,000; and £31,000. These add up to £56,000. The answer has been corrected to read £56,000.
New Version: R03CalcWkbk010924v2
29 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget.
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget.
27 March 2025 Due to a change in the CII Study Text, Question 36 has been amended to
‘Amanda is selling her flat and buying a larger residential property in Manchester for £380,000. She has agreed with the vendor that this includes £5,500 for all of the white goods, carpets, and curtains. How much Stamp Duty Land Tax is payable?
A. £6,225
B. £8,725
C. £9,345
D. £10,500’
Answer is B. Correct Answer Rationale has been amended to ‘A reasonable amount for fixtures and fittings can be deducted from the buying price. £380,000 – £5,500 = £374,500. First £125,000 charged at 0% = £0. Next £125,000 charged at 2% = £2,500. £374,500- £250,000 = £130,000 x 0.05 (5%) on excess over £250,000 = £6,225. Total = £8,725’
New Version: R03Set1010924v3
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R03Set1010924v2
27 March 2025 Due to a change in the CII Study Text, Question 37 has been amended to
‘Phil is buying a residential property for £275,000. He has agreed with the seller that this includes £5,000 for carpets and curtains. How much Stamp Duty Land Tax is payable by Phil as a first-time buyer?
A. Nil
B. £3,750
C. £4,500
D. £5,750’
Correct Answer Rationale has been amended to ‘As a first-time buyer, Phil won’t pay SDLT on this property as he paid less than £300,000 for it.’
New Version: R03Set2010924v3
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R03Set2010924v2
27 March 2025 Due to a change in the CII Study Text, Question 9 has been amended to
‘Rhiannon and Vera exchanged their houses with no cash payment as both houses were worth £300,000. What, if any, Stamp Duty Land Tax (SDLT) is payable?
A. Neither is liable for SDLT as no money has changed hands.
B. Both would be liable for SDLT of £5,000 each.
C. Neither is liable for SDLT as it is not a commercial transaction.
D. They would have a joint liability to SDLT of £5,000.’
Correct Answer Rationale has been amended to ‘When houses are exchanged, each person pays SDLT on the market value of the property they have acquired. In this instance, the SDLT would be £125,000 x 0% = £0. £125,000 x 2% = £2,500. £300,000 – £250,000 = £50,000 x 5% = £2,500. Total = £5,000 each.’
New Version: R03Set3010924v3
31 January 2025 Due to a change in the CII Study Text, the last sentences of the correct answer rationale for Question 42 have been amended to:
‘Trust gains made on or after 30 October 2024 are taxed at the rate of 24%. Prior to that date, they were taxed at the rates of 20% or 24%, depending on the nature of the asset disposed of.’
New Version: R03Set3010924v2
27 March 2025 Due to a change in the CII Study Text, the stem of Question 8 has been amended to ‘Cleo, a first-time buyer, buys a flat in England for £252,950. How much Stamp Duty Land Tax (SDLT) will be payable on this purchase?’ The correct answer rationale has been amended to ‘As a first-time buyer, Cleo benefits from SDLT relief where no SDLT is paid on purchases of residential property costing £300,000 or less. The amount due is therefore £0.’
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Click here to download the updated version.
File Name: R03MockTaster
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R03RevisionNotes010924v2
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R03RevisionNotes010924v2
17 April 2025 Page 35, Detailed explanation amended to read £41,000 instead of £21,000
New Version: R04CalcWkbk010924v4
16 January 2025 Due to a change in the CII Study text, Section 4, Pages 14 and 54, Question 7 has been amended to reflect new rules regarding OTA and QROPS. It now reads:
‘Omar took a scheme pension valued at £20,000 per annum with no tax-free cash in 2014/15 when the lifetime allowance was £1.25m. He subsequently applied for Individual Protection 2016 with a protected amount of £1.25m.
In 2024/25, Omar moves to Italy and transfers £1m to an Italian QROPS.
Calculate the tax charge that Omar will pay on the transfer.’
The sentence: ‘Income tax rates have no bearing on this.’ has been removed from the answer.
New Version: R04CalcWkbk010924v3
12 December 2024 This resource has been amended to include a section on ‘Lump Sum Allowance and Lump Sum Defined Benefit Allowance’. Please contact our Customer Service team to request an updated copy of this resource.
New Version: R04CalcWkbk010924v2
12 December 2024 This resource has been amended to include a section on ‘Lump Sum Allowance and Lump Sum Defined Benefit Allowance’. Please click here to download an updated copy of this resource.
File Name: R04CalcTaster
20 February 2025 Improvements have been made to this resource to further support your learning.
22 January 2025 Due to a change in the CII Study Text, Question ID 015R04EMS2 has been changed to:
‘In order for a pension scheme to be recognised as a Qualifying Recognised Overseas Pension Scheme (QROPS), it must
A. be based in the same country in which the member is resident.
B. be established in a European Union (EU) country or Gibraltar.
C. notify HMRC that it meets the relevant conditions to be recognised.
D. allow benefits to be paid no earlier than the age of 50.’
The answer is now C.
The answer rationale is now:
‘To be recognised as a QROPS, a scheme must notify HMRC that it meets the relevant qualifying conditions. The scheme may be, but does not necessarily need to be, based in the EEA, Gibraltar or the same country in which the member is resident. Benefits cannot normally be paid earlier than permitted under UK law, which is currently from the age of 55.’
Question ID 015R04EMS1 has been changed to:
‘Bertha has recently transferred her UK pension fund into a qualifying recognised overseas pensions scheme (QROPS). Bertha has been informed that she will face an overseas transfer charge as a result. This is because
A. the scheme is registered, and Bertha is resident, in Germany.
B. Bertha is resident in New Zealand where the scheme is established in Australia.
C. Bertha is resident in the United States and the scheme is run by her employer.
D. Bertha works for the United Nations and is transferring to its pension scheme.’
The answer is now B.
The answer rationale is now:
‘A transfer to a QROPS will not result in a transfer charge where the QROPS is established in the same country in which the member is resident, where the scheme is an occupational one and the member is employed by a sponsoring employer, or where it is run by an international organisation for which the member works.
If Bertha were resident in New Zealand and the scheme established in Australia, she does not meet the above criteria and therefore a transfer charge will apply.’
4 November 2024 Question ID 043R04EMS1 – Option B has been amended to: ‘the payment must be made from uncrystallised funds.’ The answer has been amended to B, C, and D.
27 February 2025 Question 46, Option D has been amended to: ‘the rate of stamp duty land tax is 5% above standard rates.’ The correct answer rationale has been amended to: ‘Tax relief on mortgage interest is now only available at basic rate. If there is a gain on the sale of the property, John could suffer CGT and for buy-to-let properties, the stamp duty land tax rates are 5% above standard rates. The property will form part of John’s estate for IHT purposes.’
New Version: R04Set2010924v2
27 February 2025 Question 32 has been amended as follows:
‘A defined benefit pension scheme would not be able to pay what type of death benefit?
A. A defined benefits lump-sum death benefit.
B. A pension protection lump-sum death benefit where the member dies before age 75.
C. A pension protection lump-sum death benefit where the member dies after age 75
D. An annuity protection lump-sum benefit.’
The answer is D.
The correct answer rationale has been amended to: ‘An annuity protection lump sum is only available from defined contribution schemes.
Only a defined benefit scheme can pay death benefits in the form of a lump-sum death benefit or a pension protection lump-sum death benefit, which can be payable at any age.’
New Version: R04Set3010924v3
18 November 2024 Amendments to Question 5 and its correct answer rationale as follows:
A. net income of £155,000.
D. gross income of £290,000.
Correct Answer Rationale: Threshold and adjusted income figures are the key figures used to directly determine if tapering of the annual allowance will apply rather than gross income or net income figures. On 6 April 2015, rules were introduced which reduced the annual allowance for individuals with threshold income of more than £110,000 and adjusted income of more than £150,000. Since April 2023, these figures have increased to £200,000 and £260,000 respectively. (Note: The allowance is reduced by £1 for every £2 adjusted income over £260,000). Adjusted income of £275,000 will therefore mean Kamil being subject to tapering.
New Version: R04Set3010924v2
22 January 2025 Due to a change in the CII Study Text, the stem of Question 7 has been changed to:
‘Craig is a UK ex-pat resident in Portugal. He had no lifetime allowance protection. During the 2024/25 tax year, he transfers his UK pension scheme valued at £1,000,000 to a Lisbon based scheme which meets the definition of a QROPS. This would mean that he would be subject to’
The answer rationale is now:
‘As the scheme is a QROPS, the payment is an authorised one. Craig is resident in Portugal and the receiving scheme is based the same country. The amount is also within his overseas transfer allowance. Therefore, no overseas transfer charge applies. The payment would not be an unauthorised one and income tax does not apply on a transfer of benefits.’
File Name: R04MockTaster
17 April 2025 Page 111, Answer to Question 4, first bullet point amended to read LSDBA (not LSA)
New Version: R04RevisionNotes010924v4
16 January 2025 Due to a change in the CII Study Text, on Page 56, the information with the subheading ‘Qualifying Recognised Overseas Pension Schemes (QROPS)’ has been amended to reflect rule changes regarding UK residents transferring to EEA/Gibraltar.The following bullet points have been removed:
‘Albeit this is now set to zero in any event.’
‘Established in EEA/Gibraltar and so is the member (not necessarily same country)’
In the section questions on Page 59, the following bullet point has been removed from the answer for Question 5:
‘Established in EEA/Gibraltar and so is the member (not necessarily same country)’
New Version: R04RevisionNotes010924v3
31 August 2024 A new section ‘The Lump Sum and Death Benefits Allowances’ has been added after Lifetime Allowance (LTA) as Section 5, and all other section numbers have been increased by 1.
New Version: R04RevisionNotes010924v2
22 October 2024 Adjusted column width on answer grid.
New Version: R05Set1010924v2
22 October 2024 Adjusted column width on answer grid.
New Version: R05Set2010924v2
17 March 2025 Page 13 – Carer’s Allowance – Limit on earnings updated to read £151 pw.
New Version: R05RevisionNotes010924v2
3 October 2024 Exam Sitting
27 September 2024 Page 22 – The fifth point should read ‘Reached State Pension age pre-6 April 2016 so their State Pension income is made up of Basic State Pension (max £8,814pa for 2024/25) and possibly Additional State Pension.’ The sixth point should say £169.50pw (not pm).
Page 55 – The seventh bullet point should read ‘Investee companies must have less than 250 full time employees/500 for knowledge intensive firms’.
Page 59 – The fourth justification should read ‘Own occupation’.
New Version: R06CaseStudy031024v3
20 September 2024 Page 13, second row of ‘Initial Thoughts’ column, the fourth bullet point has been amended. It now reads: ‘Nancy is a basic rate taxpayer (BST). She has PSA of £1,000.’
New Version: R06CaseStudy031024v2
20 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R06CalcWkbk010924v3
31 January 2025 This resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R06CalcWkbk010924v2
3 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R06RevisionNotes010924v2
4 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R07Set1010924v3
24 October 2024 Rationale added for Questions 10, 11, and 12 as follows:
Question 10 – Planning permission is needed for home extensions, which includes the addition of dormer windows. It is not normally required for small extensions or porches.
Question 11 – Grade I and Grade II* buildings may receive grants from English Heritage for urgent major repairs. Grants are unlikely for Grade II buildings.
Question 12 – Where an individual is sued for bankruptcy, a trustee in bankruptcy, which may be the Official Receiver or a private sector insolvency practitioner, will be appointed to administer their assets and repay creditors.
New Version: R07Set1010924v2
31 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R07Set2010924v3
4 February 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Capital Gains Tax and Stamp Duty Land Tax that came into effect from October 2024 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R07Set2010924v2
31 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax effective from 1 April 2025 as a result of the Autumn Budget. Please contact our customer service team to request your updated copy.
New Version: R07Set3010924v3
4 February 2025 Due to a change in the CII Study Text, Question 37 has been amended to:
‘How much additional Stamp Duty Land Tax are buy-to-let property purchasers subject to where they already own a property and the buy-to-let purchase takes place in February 2025?
A. 3%
B. 4%
C. 5%
D. 6%’
The correct answer rationale has been amended to: ‘An additional 5% (3% for sales prior to 31 October 2024) is payable in Stamp Duty Land Tax where the buyer already owns a property.’
New Version: R07Set3010924v2
31 March 2025 Due to a change in the CII Study Text, this resource has been updated to reflect the changes made to Stamp Duty Land Tax that came into effect from 1 April 2025 as a result of the Autumn Budget. Question 7 has been amended to:
‘Kirsty and Chris, who live and work in York, are buying a second home in London as an investment property. The sale price of the property they are interested in is £350,000. They intend to let out the property. What rates of stamp duty land tax will they pay on this purchase?
A. 0% and 5%
B. 3%, 5%, and 8%
C. 5% and 10%
D. 5%, 7%, and 10%’
The answer is now: D
The Correct Answer Rationale has been amended to: ‘Buy-to-let purchases carry a 5% premium (3% for sales prior to 31 October 2024) on top of the standard rates of Stamp Duty Land Tax, which are 0% for the first £125,000, 2% for the next £125,000 and 5% up to £925,000. Therefore, the rates payable would be 5%, 7%, and 10%.’
4 February 2025 Due to a change in the CII Study Text, Question 7 has been amended. It now reads:
‘Kirsty and Chris, who live and work in York, are buying a second home in London as an investment property. The sale price of the property they are interested in is £350,000. They intend to buy in February 2025 and let out the property. What rates of stamp duty land tax will they pay on this purchase?
A. 0% and 5%
B. 3%, and 5%
C. 5% and 10%
D. 5%, 8% and 10%’
The correct answer rationale has been changed to:
‘Buy-to-let purchases carry a 5% premium (3% for sales prior to 31 October 2024) on top of the standard rates of Stamp Duty Land Tax, which are 0% for the first £250,000 and 5% up to £925,000. Therefore, the rates payable would be 5% and 10%.’
File Name: R07MockTaster
