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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.

Filter updates:

Stamp Duty Land Tax – Temporary Changes

STAMP DUTY LAND TAX

NOTE: The temporary increase to the nil rate band for Stamp Duty Land Tax (SDLT) has been extended.

Rather than ending on 31 March 2021 as originally stated, a temporary nil rate band of £500,000 was in place until 30 June 2021. Then from 1 July 2021 to 30 September 2021 the nil rate band is £250,000. The nil rate band will return to the standard amount of £125,000 on 1 October 2021.

The temporary increase to LTT in Wales has now ended, with the nil rate band having reverted to £180,000.

This affects our resources for AF1, AF4, AF5, CF1, CF6, ER1, LP2, R01, R02, R03, R06, and R07. Our resources are currently being updated for the 2021/22 examinable tax year and will be updated in due course to reflect this temporary change as well as the rates effective from 1 October 2021.

All Financial Services Exams

All resources for AF, CF, ER, FA, J0, LP, and R0 have been updated in accordance with the new syllabus examinable from 1 September 2020.  If you purchased the 2019/20 versions, contact us to receive the updated versions free of charge*. Note that e-learning modules 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-learning videos, which have a 6-month subscription, those resources which have been discontinued, or our R03 hard copy study text.

All Insurance Exams

All resources for IF1, IF2, IF3, IF4, and IF5 have been updated in accordance with the new syllabus examinable from 1 January 2021.

AF1 Mock Paper Set 1

14 May 2021 Model Answer for Question 1 (a)(i) – Footnote added to table, relating to ‘Car benefit’: * Car registered after 6 April 2020, base rate 14% plus (146g/km round down to 145g/km less 55g/km base charge = 90g/km divided by 5 = 18%) = 32%. 4% diesel supplement then added.

New Version: AF1Set1010920v3

15 October 2020 Q1 case study now reads ‘In addition, Adco make a pension contribution of 15% of basic salary into the firm’s workplace group personal pension scheme on the condition that Peter contributes 7.5%.

New Version: AF1Set1010920v2

AF1 Trusts Workbook

15 May 2021 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: AF1Wkbk010920v3

2 November 2020 Page 46 question and page 109 answer now read ‘How is a lump sum death benefit from a pension scheme generally treated for IHT purposes?’

New Version: AF1Wkbk010920v2

AF1 Trusts Workbook Taster

15 May 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: AF1WkbkTaster

AF1 Calculation Workbook

14 May 2021 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: AF1CalcWkbk010920v2

AF1 Calculation Workbook Taster

14 May 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: AF1CalcTaster

AF1 Study Notes

8 October 2020 Page 10 – in ‘Salaried members of LLPs’, it now reads ‘Taxed under self-assessment (rather than PAYE) if more than 20% pay based on profits of LLP or have significant say in running of LLP or have made significant capital contribution to LLP (25% of LLP income plus)’

Page 64 – NS&I Investment Account minimum investment now reads £20, rather than £20m

New Version: AF1StudyNotes010920v2

AF1 Audio Masterclasses

14 May 2021 Masterclass 8 – This resource will be updated in due course to reflect the fact that the ‘Deprivation of Liberty Safeguards’ are now known as ‘Liberty Protection Safeguards’.

AF4 Mock Paper Set 1

30 June 2021 Q3 d(i) answer amended to 1.13, plus 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: AF4Set1010920v2

AF4 Mock Paper Set 2

30 June 2021 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: AF4Set2010920v2

AF4 Mock Paper Set 3

30 June 2021 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: AF4Set3010920v2

AF4 Mock Paper Taster

30 June 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: AF4MockTaster

AF4 Calculation Workbook

16 June 2021 Section 26, Question 2 – Question amended to “Henry makes a chargeable gain of £25,000 on a bond that he has held for just over 5 years. In the tax year 2020/21, his gross income is £47,500. Calculate the top slicing relief Henry will receive.”

Also, 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: AF4CalcWkbk010920v2

AF4 Calculation Workbook Taster

16 June 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

Filename: AF4CalcTaster

AF4 Revision Notes (previously known as ‘study notes’)

24 July 2021 Due to a change in the CII Study Text, Page 70, ‘Taxation of Offshore Bond Gain’ table has been updated. Please contact our customer service team to request your updated copy.

New Version: AF4RevisionNotes010920v3

26 May 2021 Due to a change in the CII Study Text, Page 27, the fourth bullet has been amended to “Reduced rates of SDLT apply for residential purchases from 8 July 2020 until 30 June 2021”

Page 28, “After a phased return, on the 1st October 2021 the rates will revert to:”

Page 30, “Temporary changes to LTT are also in place from 27 July 2020 to 30 June 2021” and

“The increase in threshold does not apply to the purchase of additional residential properties where existing bands will apply as well as 4% surcharge”

“On second properties and buy-to-let investments there is an additional 4% on top of the normal rates on properties over £40,000”

Also, 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: AF4StudyNotes010920v2

AF5 Study Notes

12 April 2021 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: AF5StudyNotes010920v2

AF5 Study Notes Taster

12 April 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: AF5StudyNotesTaster

AF7 Mock Paper Set 1

2 March 2021 In the Model Answer for Question 9, the reference has been changed to Chapter 5 Section D4.

New Version: AF7Set1010920v3

18 December 2020 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: AF7Set1010920v2

AF7 Mock Paper Set 2

18 December 2020 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: AF7Set2010920v2

AF7 Mock Paper Set 3

18 December 2020 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: AF7Set3010920v2

AF7 Mock Paper Taster

18 December 2020 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: AF7MockTaster

AF7 Core Knowledge

24 March 2021 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: AF7CoreKnowledge010920v2

AF7 Core Knowledge Taster

24 March 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: AF7CoreKnowledgeTaster

AF7 Study Notes

19 January 2021 Our AF7 Study Notes have been improved to further support your learning and are now called AF7 Revision Notes. If you’ve previously bought the 19/20 version of our AF7 Study Notes, please contact our customer service team to request your complimentary version of the AF7 Revision Notes.

CF1 Mock Paper Set 2

10 December 2020 Question 10 – answer amended to A.

New Version: CF1Set2010920v2

CF1 Study Notes

10 May 2021 Due to a change in the CII Study Text, Page 58 – date change in “Reduced rates of SDLT apply for residential purchases from 8 July 2020 until March 2021” to “from 8 July 2020 until 30 June 2021”

Page 59 – “On 1 April 2021 the rates revert to:” changed to “After a phased reduction, on 1 October 2021 the rates revert to:

Page 61 – Answer to Question 10 changed to “- Between 8 July 2020 until 30 June 2021 no SDLT is paid on the first £500,000. (if the price is over £500,000 the rules are the same for those that have bought a property before)
– From 1 October 2021 no SDLT is payable on the first £300,000 of the property’s purchase price, over £300,000 and up to £500,000 the rate is 5% and no relief is available where the property’s purchase price exceeds £500,000

New Version: CF1StudyNotes010920v3

31 August 2020 Due to a change in the CII Study Text, on Page 35, in the bullet point regarding Help to Buy ISAs, “however it is possible for existing savers to claim bonus until 2029.” has been changed to “existing savers can continue to save until 30 November 2029 and have until 1 December 2030 to claim the Government bonus.”

New Version: CF1StudyNotes010920v2

CF6 Mock Paper Set 2

19 April 2021 Question 100 – typo ‘attitude tor risk’ amended to ‘attitude to risk’

New Version: CF6Set2010920v2

CF8 Mock Paper Set 1

18 December 2020 First part of Question 35 amended to: “Amanda, who lived in England, has died without leaving a will…”

New Version: CF8Set1010920v2

FA2 Mock Paper Set 1

26 April 2021 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: FA2Set1010920v2

FA2 Mock Paper Set 2

26 April 2021 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: FA2Set2010920v2

J02 Mock Paper Set 2

15 May 2021 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: J02Set2010920v2

J02 Mock Paper Set 3

15 May 2021 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: J02Set3010920v2

J02 Trusts Workbook

16 April 2021 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: J02Wkbk010920v3

2 November 2020 Page 46 question and page 109 answer now read ‘How is a lump sum death benefit from a pension scheme generally treated for IHT purposes?’

New Version: J02Wkbk010920v2

J02 Trusts Workbook Taster

16 April 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: J02WkbkTaster

J02 Audio Masterclasses

27 January 2021 Masterclass 2 – This resource will be updated in due course to reflect the fact that the ‘Deprivation of Liberty Safeguards’ are now known as ‘Liberty Protection Safeguards’.

J05 Calculation Workbook

25 July 2021 To further support your learning, an additional question has been added to ‘Section 5: Drawing Pension Benefits – Flexible Income Options’. Please contact our customer service team to request your updated copy.

New Version: J05CalcWkbk010920v2

J05 Study Notes

10 March 2021 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: J05StudyNotes010920v2

J05 Study Notes Taster

10 March 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

Filename: J05StudyNotesTaster

J10 Mock Paper Set 2

30 March 2021 Questions 71 option B amended and 74 option D amended for Gordon’s Growth Model.

New Version: J10Set2010920v2

J12 Calculation Workbook

18 December 2020 Section 13 – updated answers/Section 41 simplified answer. Please contact our customer service team to request your updated copy.

New Version: J12CalcWkbk010920v3

24 November 2020 Section 27, Page 95 – reference has been amended to ‘Chapter 8’.

New Version: J12CalcWkbk010920v2

J12 Calculation Workbook Taster

18 December 2020 Section 13 – updated answers/Section 41 simplified answer. You can download an updated copy here.

Filename: J12CalcTaster

LP2 Mock Paper Set 1

14 December 2020 Question 73 – date amended to ‘2020/21’

New Version: LP2Set1010920v2

R01 Mock Paper Set 1

27 January 2021 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: R01Set1010920v2

R01 Mock Paper Set 2

27 January 2021 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: R01Set2010920v2

R01 Mock Paper Set 3

27 January 2021 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: R01Set3010920v2

R01 Study Notes

10 December 2020 Due to a change in the CII Study Text, on Page 7, in the table, the first bullet point under ‘Global’ has been changed from ‘Financial Stability Forum (FSF)’ to ‘Financial Stability Board’

New Version: R01StudyNotes010920v2

R01 Study Notes Taster

10 December 2020 Due to a change in the CII Study Text, on Page 7, in the table, the first bullet point under ‘Global’ has been changed from ‘Financial Stability Forum (FSF)’ to ‘Financial Stability Board’

Filename: R01StudyNotesTaster

R01 E-Learning

18 December 2020 Due to a change in the CII Study Text, Module 1 Slide 16 has been amended to reflect that the Financial Stability Board has replaced Financial Stability Forum.

New Version: R01Module1Video2021v2

R02 Mock Paper Set 1

26 May 2021 Due to a change in the CII Study Text, Page 35, Question 16 Correct Answer Rationale – “Where a main property is purchased up until 31 March 2021,” has been changed to “Where a main property is purchased up until 30 June 2021,”

New Version: R02Set1010920v2

R02 Mock Paper Set 3

26 May 2021 Due to a change in the CII Study Text, Page 27, Question 15 Correct Answer Rationale – “Until 31 March 2021, the SDLT threshold for ” has been changed to “Until 30 June 2021, the SDLT threshold for ”

Also, “from 1 October 2021 SDLT will revert to 0% on the first £125,000 for most residential properties” has been changed to “After a phased return, from 1 October 2021 SDLT will revert to 0% on the first £125,000 for most residential properties”

New Version: R02Set3010920v3

15 October 2020 Q94 Option D has been amended slightly to read: “fund manager of fund B has added the most value.”

New Version: R02Set3010920v2

R02 Calculation Workbook

25 September 2020 Section 19, Question 1 – figures have been changed to £15,300 and £20,300

New Version: R02CalcWkbk010920v2

R02 Calculation Workbook Taster

25 September 2020 Section 19, Question 1 – figures have been changed to £15,300 and £20,300.

Filename: R02CalcTaster

R02 Revision Notes (previously known as ‘study notes’)

24 July 2021 Due to a change in the CII Study Text, Page 75, ‘Taxation of Offshore Bond Gain’ table has been updated. Please contact our customer service team to request your updated copy.

New Version: R02RevisionNotes010920v3

26 May 2021 Due to a change in the CII Study Text, Page 7, the fourth bullet has been amended to “Reduced rates of SDLT apply for residential purchases from 8 July 2020 until 30 June 2021”

Page 8, “After a phased return, on the 1st October 2021 the rates will revert to:”

Page 10, “Temporary changes to LTT are also in place from 27 July 2020 to 30 June 2021” and

“The increase in threshold does not apply to the purchase of additional residential properties where existing bands will apply as well as 4% surcharge”

“On second properties and buy-to-let investments there is an additional 4% on top of the normal rates on properties over £40,000”

New Version: R02StudyNotes010920v2

R02 E-Learning

26 May 2021 Due to a change in the CII Study Text, Module 2 Slide 19 will be amended in due course to reflect the fact that the SDLT nil rate band for residential property in England and Northern Ireland has now been extended until 30 June 2021. There will be a staggered return to the original thresholds, which will then apply from the 1st of October 2021.

R02 Audio Masterclasses

26 May 2021 Masterclass 1 – This resource will be updated in due course to reflect the fact that the SDLT nil rate band for residential property in England and Northern Ireland has now been extended until 30 June 2021.

Also, “After a phased reduction, the rates will revert to those that were in place prior to the 8th of July 2020 from the 1st of October 2021.”

R03 Mock Paper Set 1

15 April 2021 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: R03Set1010920v2

R03 Mock Paper Set 2

15 April 2021 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: R03Set2010920v2

R03 Mock Paper Set 3

15 April 2021 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: R03Set3010920v2

R03 Calculation Workbook

14 May 2021 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: R03CalcWkbk010920v3

15 April 2021 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: R03CalcWkbk010920v2

R03 Calculation Workbook Taster

14 May 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

15 April 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: R03CalcTaster

R03 Revision Notes

8 October 2020 Page 5 – in ‘Salaried members of LLPs’, it now reads ‘Taxed under self-assessment (rather than PAYE) if more than 20% pay based on profits of LLP or have significant say in running of LLP or have made significant capital contribution to LLP (25% of LLP income plus)’

Page 60 – NS&I Investment Account minimum investment now reads £20, rather than £20m

New Version: R03StudyNotes010920v2

R03 Revision Notes Taster

8 October 2020 Page 5 – in ‘Salaried members of LLPs’, it now reads ‘Taxed under self-assessment (rather than PAYE) if more than 20% pay based on profits of LLP or have significant say in running of LLP or have made significant capital contribution to LLP (25% of LLP income plus)’

Filename: R03StudyNotesTaster

R03 Study Text

8 October 2020 Page 9 – 1.2.1.4 now reads ‘Members are taxed as employees (i.e. under PAYE) and referred to as ‘salaried members’ unless:’

Relates to: R03 Study Text 20/21 First Edition

R03 Study Text Taster

8 October 2020 Page 9 – 1.2.1.4 now reads ‘Members are taxed as employees (i.e. under PAYE) and referred to as ‘salaried members’ unless:’

Filename: R03StudyTextTaster

R04 Mock Paper Set 1

29 June 2021 Question 50 – amended ‘include’ to be ‘exclude’; it now reads: “Certain assets are not permitted holdings within a UK registered pension scheme. A scheme administrator should be aware that prohibited assets exclude: Tick all that apply.”

New Version: R04Set1010920v4

4 June 2021 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: R04Set1010920v3

4 September 2020 The page numbering has been corrected. Please contact our customer service team to request your updated copy.

New Version: R04Set1010920v2

R04 Mock Paper Set 2

4 June 2021 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: R04Set2010920v4

30 March 2021 Question 12 has been changed to:
Joyce registered for Primary protection with a fund at A-day valued at £2m. Assuming a lifetime allowance for Joyce of £2.4m at the point when Joyce crystallises her fund, what can her fund build to before any lifetime allowance charge is levied? A. £2.0m; B. £2.4m; C. £2.7m; D. £3.2m. Answer is D, Reference is Chapter 3, Section C1.

New Version: R04Set2010920v3

4 September 2020 The page numbering has been corrected. Please contact our customer service team to request your updated copy.

New Version: R04Set2010920v2

R04 Mock Paper Set 3

4 June 2021 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: R04Set3010920v2

R04 Mock Paper Taster

4 June 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: R04MockTaster

R04 Revision Notes (formerly ‘Study Notes’)

4 June 2021 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: R04RevisionNotes010920v2

R04 Revision Notes Taster (formerly ‘Study Notes’ Taster)

4 June 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: R04RevisionNotesTaster

R04 Audio Masterclasses

24 May 2021 Masterclass 12 – This resource will be updated in due course to reflect the following change:

“An occupational scheme will have a retirement age, but an employer is not allowed to force a member to leave employment at that date.” has been removed.

“Under the Equality Act 2010, occupational pension schemes cannot discriminate against scheme members on the basis of age. While an employer can have a compulsory retirement age, it must have a legitimate reason for doing so that is in line with Government policy.” has been added.

R06 Calculation Workbook

25 July 2021 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: R06CalcWkbk010920v2

R06 Calculation Workbook Taster

25 July 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

Filename: R06CalcTaster

R07 Mock Paper Set 1

4 June 2021 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: R07Set1010920v3

18 September 2020 The answer to Question 4 has been changed to A.

New Version: R07Set1010920v2

R07 Mock Paper Set 2

4 June 2021 Due to a change in the CII Study Text, the answer to Question 75 has been amended as a result of the change to SDLT. The answer is now C.
Also, 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: R07Set2010920v2

 

R07 Mock Paper Set 3

4 June 2021 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: R07Set3010920v2

 

R07 Mock Paper Taster

4 June 2021 Improvements have been made to this resource to further support your learning. You can download an updated copy here.

File Name: R07MockTaster