Posted by The Team at Brand Financial Training on April 14, 2020 in Newsletter
14 April 2020
I don’t know about you, but I keep hearing “While you have all this time on your hands, learn this, do this, study this”. Oh wouldn’t it be nice to spend time learning all there is to learn, doing all there is to do (in the confines of the home) and studying for a few hours each day? But a huge number of us are not in that position at all.
Like many of you, I have children to homeschool, hot meals to cook (how I miss school lunches) and a worklife to keeping ticking over. I’m also trying to keep the dirt in my home down to a ‘liveable’ standard and trying not to worry too much about vulnerable family members scattered across the globe.
I know that many (most?) of you are in a similar situation, so let’s acknowledge that for some, now is absolutely not the time to study and you need to be focusing on both the physical and mental health of yourself and your family. Let’s give ourselves a break and stop feeling guilty for not being able to do it all. I have to remind myself of that at least once a day.
For those of you who do have some time, I also appreciate that it can be very hard to get motivated – not knowing how long the lockdown will last, and if you do study, when will you even be able to sit your exam? Sure, it would be great if you could dig deep and find the motivation to do some study so that as soon as you can, you can sit your exam, but in reality you may just have to look after your health – both physically and mentally. Don’t beat yourself up about that. Do what you need to do. We’ll still be here when you’re ready.
Personally, I have had to put my mental health first to ensure that I’m strong for my family. That means that we don’t always get all the schoolwork done, and that’s ok. It means some business things are on hold temporarily, because both myself and the team are juggling work and kids, and that’s ok too.
If you do decide now is the time for you to study, we’re still here for you. You can purchase and download resources from our website 24/7 as normal. Indeed, we have an additional 15% off our study kits (on top of the usual 10%) until 17th April. And with the uncertainty over exam sittings, if you purchase any of our 19/20 resources you will be able to claim the 20/21 versions free of charge* when they are ready in late August. You can find out more below.
If you have any queries, all we ask is that you bear with us as it may take longer for us to answer the phone or respond to emails.
Keep safe.
Catriona.
Catriona Standingford
Founder and Director
PS. If you are trying to get motivated to study, do have a look at this old, but still relevant, blog post on listing your way to being motivated. Also, today's revision and study article offers some strategies for maintaining focus at this distracting time.
*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, or our R03 hard copy study text.
Featured Article
Changes to the Intestacy Rules
With all the other major headlines dominating the news recently, it may have passed some by that the intestacy rules have been changed. Read on to learn what changes have been made to the intestacy rules. This is useful information for CII AF1, AF5, CF1, FA1, J02, R01, and R06 candidates.
The previous rules came into force on 1st October 2014, and at the time, it was stated that the statutory amounts will be reviewed at least every 5 years and will rise in line with CPI.
So to that end, new rules have applied since 6th February 2020.
The Current Intestacy Rules
Current rules now state that if a spouse is survived with children, then the spouse gets £270,000 plus all the personal belongings plus half of the remaining estate outright. Adult children will take the other half outright, and if any of the children are minors at the time of death, the property is held on trust for them usually until they reach age 18.
The update is, of course, an improvement, but the advice has not changed and that is ’ make a will! Even if £270,000 seems like a decent amount, once you imagine that a property is often worth more than this, and the children are entitled to 50% of anything over this amount, then you can see that an awkward scenario could take place if the children force the sale of the home.
Focusing at Home in the Midst of the COVID 19 Pandemic
The extent and severity of the coronavirus pandemic have caught almost everyone by surprise. The ‘new normal’ is likely to be with us for quite some time, and while we may not like it, the reality is that we’re all going to have to adapt rapidly to a new way of living and working. Here are some strategies for staying focused when the distractions are all around.
It may be that you’ve previously done your studying in the office after-hours or in a library or coffee shop. With those options temporarily unavailable, it’s time to think again.
While staying calm, safe and focused may not seem exactly easy right now, there are a few things you can do to maximise the chances of success.
Minimise distractions
For many, understandably, it can seem harder to focus than ever. More friends than usual may be checking in via social media or other digital means, while the news may feel like the proverbial car crash you want to stop looking at but can’t. Or, of course, you may be worried about family members. Try turning off news notifications on your phone and limiting yourself to bulletins no more than once or twice daily, to get only the information you need. Stay in touch with friends and relatives, but do that for, say, just half an hour a day.
Working with children around
Having kids at home with you while the schools are shut could present an extra challenge. This is where clear communication, setting firm boundaries with your family and sticking to a routine come into their own. If you have a partner who’s also around at home, try and alternate shifts so that you both have uninterrupted work time. During the week, stick to bedtimes and getting up and dressed and having breakfast at the same time that you would on a normal school day – if necessary, remind everyone (including yourself!) that you’re not on holiday.
Even though the CII has cancelled all multiple-choice exams until the end of May, and all written exams are cancelled until October (except for AF7 and R06 which are scheduled for July), it may be that you don’t want to lose the revision you’ve already begun or you just want to keep busy with a productive activity.
We are pleased to offer an additional 15% off ALL our study kits.
The discount is on top of the standard 10% study kit discount.
This offer is valid until 17 April.
The discount will be automatically applied to all study kits at the checkout.*
* Discount codes cannot be used at the same time.
Visit our website, use the top menu to navigate to your exam, and click on the ‘Study kits available’ link. Note that the majority of exams do have study kits available, although some do not.
Purchase Now and Receive 20/21 Versions Free of Charge
We know many of you are concerned that due to exam cancellations, you may not be able to sit your exam before 31 August. Tax year 19/20 is examined until 31 August, and from 1 September tax year, 20/21 is examined. At this uncertain time, we know it is important that you can continue to study regardless of which tax year will be examined when you are able to sit the exam. So all purchasers of our 19/20 resources will be entitled to the 20/21 versions free of charge*. They will be available in late August. We will let you know about that nearer the time.
*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, or our R03 hard copy study text.
Learning Resource Updates Page
Did you know that, from time to time, throughout the examinable tax year, we may update our resources? Often it is necessary because rules and regulations have changed, and because we ensure our resources are up to date, we need to amend them.
But don’t worry! We advise which of our resources has been changed and provide the detail of the change. You can look on our Learning Resource Updates Page to see if the resource you purchased has been amended. Just click on your exam category and you’ll be shown a list of the updates that may be relevant to you.
TIP: If you have a query about your purchased paper – perhaps a question doesn’t sound right given recent legislation – have a look at the Learning Resource Updates Page before you send us your query. You may find a change has occurred that affects you.
Updated Resources for the New Examinable Tax Year 2020/21
With things being so uncertain at this time, we want to assure you that we’ll be updating all our 19/20 resources as usual in July/August, and all purchasers of our 19/20 resources will be entitled to the 20/21 versions free of charge*. The updated resources will be available in late August. We’ll keep you informed as the time draws nearer.
*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, or our R03 hard copy study text.
Did You Miss These Posts on Our Blog?
Articles and Help for All Your Exams
You’ll find that there’s something for everyone when you check out our blog:
specific topics and how-to articles;
reviews of recent CII exam papers;
our Friday Five – a weekly quiz to give you a fun break from reading the study text;
study techniques that help you to retain your revision and keep your brain working for you, when you need it
Here are the blog posts you might have missed since our last newsletter:
There’s such a variety of information on offer to help you as you tackle your CII exams, that you won’t want to miss a single post. We’ve made it easy for you; just click the button below and enter your email details. Be ‘in the know’ with CII-exam-related tips and info – straight to your inbox!
Quote of the Month
..." Success is liking yourself, liking what you do, and liking how you do it. "...
Maya Angelou
Friday 5
"5 Questions in 5 Minutes Every Friday"
This is a bit of Friday Fun where we provide you with 5 questions (and answers) relevant to a mix of CII exams. The challenge is for you to answer the questions in 5 minutes.
Where do I find the Friday Five?
We post each week's Friday Five to our blog first thing every Friday. You can either visit our blog every Friday at https://brandft.co.uk/blog/ or you can simply go there now, and click on the subscribe button in the top right-hand corner of the blog and sign up to receive notifications of our Friday Five posts.
Note that we don't email the Friday Five out to everybody every Friday, so we recommend you sign up to our blog at https://brandft.co.uk/blog/ so that you receive an email notification when it is posted. It will only take you a minute to sign up.
A bit of Friday Fun, but with the added benefit of testing your exam knowledge!
Here’s a reminder that the CII update their study texts throughout the examinable year to either incorporate new legislations, correct errors or clarify information. Many candidates aren’t aware of this, which can result in candidates studying out-of-date information.
To find out if you have the most up-to-date information, visit the CII website, navigate to your chosen exam and click on ‘learning solutions update’ in the ‘Unit updates’ section in the sidebar.
Note that we keep our resources up-to-date with any updates from the CII.
