Posted by The Team at Brand Financial Training on December 13, 2022 in Newsletter
13 December 2022
A huge thank you to all our customers who have made it possible for us to donate and support The Trussell Trust this year.
The Trussell Trust support a nationwide network of over 1,200 food banks providing emergency food and support to people locked in poverty, and campaign for change to end the need for food banks in the UK.
We hope you agree that this is a very worthy cause, especially in the current climate, and we thank you for making these donations possible.
Best Wishes,
The Team at Brand Financial Training
Featured Article
Key Amendments Announced in the Autumn Statement 2022
In this article, we pull out the key amends announced in the Autumn Statement that you’ll need to be aware of in terms of your CII exams. This article is particularly relevant to R01, R03, AF1, R02, AF4, CF6 and R07.
In November, it was Chancellor Jeremy Hunt’s turn to tinker with our taxes (as well as the country’s spending plans). Savings of £55bn were announced, with around half of that amount coming from a combination of explicit and stealth tax rises.
Income Tax – Tax thresholds frozen for longer
The personal allowance of £12,570 from 2021/22 will remain at this level until 5 April 2028, two years later than previously stated.
Income Tax – Reduction of the additional rate threshold
From 6 April 2023, the 45% additional rate will apply from £125,140 rather than £150,000.
Income Tax – Dividend allowance reduction
From 6 April 2023, the dividend allowance will fall from £2,000 to £1,000.
In this Brand Bitesize video, we take a look at how to work out the maximum amount of Pension Commencement Lump Sum (PCLS) available at normal pension age under a Defined Benefit (DB) scheme. This is potentially relevant to all CII pension exams, including R04, J05, and AF7.
There are two ways in which a member of a DB scheme can receive a PCLS at normal pension age, but in this video, we look at a member giving up some of their pension for a PCLS (known as commutation). Using the commutation factor, we can calculate the maximum amount of PCLS that can be taken, and how that would subsequently impact the pension they will receive (and by how much). Watch this 2-minute bitesize video to see how the calculation works in practice.
..."The calculation workbooks for R02 and R03 are very good indeed. They were a major factor in helping me achieve good scores in these exams (89% and 80% respectively)..."
Julian Sellen, Leatherhead
Available for AF1, AF4, R02, R03, R04, R06, J05, J10, J12, CF6
Many exam-takers lose vital marks when it comes to performing calculations as they haven’t nailed down the exact process and order in which to perform the calculations, and haven’t spent enough time practising them.
The number of marks gained or lost on calculation questions can make the difference between a pass and a fail. Just a little more time taken on calculations during the revision period can give you the confidence you need to perform any calculation that could come up, so that you know you will gain top marks on all those calculation questions.
Our calculation workbooks guide you through the calculations, step-by-step, and providing detailed answers, with cross references to the relevant CII study text. All questions and answers kept up-to-date to reflect changes to the exam syllabus and tax year, and you can download them instantly in PDF format.
Why not try before you buy? Download one of our free tasters:
..."I passed R02 - No doubt thanks to your fantastic workbook which helped no end! With the extra work that I did going through your workbook, this helped a great deal with feeling confident which in this exam particularly was useful given that the technique and timing is as important as the knowledge and skill in ensuring that you get through the questions in a timely manner. One could so easily become distracted or frustrated trying to work out/remember one particular formula to the deficit of the other questions but your workbook enabled me to feel glad that there were so many calculations in the exam whereby before I actually feared them."...
David Gunn, Adviser, Nottingham
Christmas Opening Hours
A quick note on our ‘opening hours’ over Christmas and New Year.
Our website is open 24/7 365 days a year, so if you are keen to get going with your revision during the Christmas break, you can purchase and download our resources with one hand, while holding a glass of mulled wine in the other.
All our resources can be purchased and downloaded/accessed immediately, regardless of when you order.
Whilst you can purchase and download whenever you like, the Brand Financial Training Team will be off from 5 pm on Thursday 22nd December and will return on Tuesday 3rd January. During that time, we will not be able to reply to any emails or phone calls. However, rest assured that any messages left will be responded to when we return.
Updates to CII Study Texts
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.
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
..." Let me tell you the secret that has led to my goal. My strength lies solely in my tenacity. "...
Louis Pasteur
Friday 5 Focus on...
"5 Questions in 5 Minutes Every Friday"
Each week, we ask questions relating to one of these topics: Investments, Taxation, Pensions, Protection, or Regulation. The challenge is for you to answer them 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!
