A Look at Recent Past Papers for the CII AF1 Exam – January 2025
In this article, we are taking a look at the questions asked in four past exam papers of the CII’s Advanced Diploma in Financial Planning AF1 exam; this is the unit that tests personal tax and trust planning.
This article is correct as at 27 December 2024.
The table below shows the questions asked in the exams sat in September 2024, February 2024, September 2023, and February 2023.
| CGT on investments and buy to let property | Income Tax calculation and theory | IHT calculation and the impact of making lifetime gifts in the tax year of death | Income Tax calculation for a deceased person including the liability on the estate |
| Holdover relief and business asset disposal relief | Self-assessment for a sole trader | Tax treatment of trustee income and capital gains | Executor’s duties in respect of reporting and payment of Income Tax |
| Liability to National Insurance contributions | Real Estate Investment Trusts. | How a trustee can be removed due to lack of mental capacity | Additional permitted subscription/ISAs and the time limits |
| HMRC factors to establish self-employment status | Repayment of student loans | Drawbacks of someone losing mental capacity without a power of attorney in place | IHT and Income Tax position of death benefits from a SIPP |
| HMRC residence tests | Laws of intestacy | Tax status due to leaving the country/residence rules | Trustee Registration Service |
| Income Tax payable on an offshore investment bond | Process of putting in place an LPA and implications of a sole attorney | Implication for a gain on an investment bond due to residence status | IHT and CGT implications for setting up a discretionary trust |
| Marriage Allowance – qualification criteria and process | Capital losses and Capital Gains Tax | Income Tax calculation | Inheritance Tax calculation |
| Income Tax calculation | CGT calculation | Employee NICs liability | Income Tax and IHT implications of establishing a discretionary trust using a deed of variation |
| Implications of someone losing mental capacity without an LPA in place | Tax planning considerations when deciding to re-invest in an EIS | Explanation of annual allowance for pension purposes | Conditions for a deed of variation to be effective for IHT |
| Advantages of a DGT and factors to consider when setting one up | CGT implications of separation and divorce | Qualifying conditions for a company raising funds under a SEIS | Powers of attorney |
| IHT on second death/ transferable NRB and charitable donation | Periodic charge and exit charges on a discretionary trust | Factors to consider before advising on investments for children | Business Asset Disposal Relief |
| Benefits of a discretionary trust set up in a Will | Loan Trust Schemes | Rent a room scheme and the Income Tax benefits | Capital Gains Tax calculation |
| Income Tax on a discretionary trust and expenses | Drop in value relief for IHT | Capital Gains Tax calculation and CGT theory | Gifting shares to children |
| Powers and duties of trustees under the Trust Act 2000 | Domicile and excluded property trusts | Impact of marriage on an existing Will and the requirements for a Will to be legally valid. | CGT impact on a gift of shares when recipient leaves the UK and the automatic overseas residence test |
As you can see each exam covers calculations of the main taxes but each will have different assets and different scenarios to test various aspects of those taxes. Powers of attorney appear in most exams as well as aspects of the residence and domicile rules.
The R03 and J02 manuals provide the relevant content for this exam and we cannot emphasise enough the importance of familiarising yourselves with the past exam guides, which provide vital guidance in terms of recurring themes.
Grab the resources you need!
If you’re studying for your CII AF1 exam, and you’re wanting to feel confident on exam day, grab our free taster to try out one of Brand Financial Training’s resources for yourself. Click the link to download the AF1 Mock Paper Taster now!
