Quite simply - the new pension allowances

To claim your CPD certificate, test your knowledge with the questions below.

Write down your answers to each of the following questions and check your answers when you click to claim your CPD certificate on the link below
 

1. How will death benefits for those that die over the age of 75 (and the benefits are settled within 2 years) be taxed?
   a) Tax free up to remaining LSDBA, then marginal rate of the recipient thereafter
   b) Tax free up to the remaining LSA, then marginal rate of the recipient thereafter
   c) Taxable in full at the beneficiaries’ marginal rate
   d) Tax free entirely
   
   
2. True or false: A small pot payment will use up LSA or LSDBA.
   a) True
   b) False
   
   
3. If a client has a Lifetime Allowance Enhancement Factor and is taking an UFPLS, how much of this payment can be tax free (within LSA and LSDBA)?
   a) 0 - 25%
   b) 25%
   c) Above 25%
   d) An UFPLS cannot be paid in this situation
   
   
4. Bob has protected tax free cash of £40,000 and £12,000 of LSA available. How much tax-free cash can he receive?
   a) £10,000
   b)  £12,000
   c)  £40,000
   d) £8,000

To claim your CPD certificate, test your knowledge with the questions below.

Write down your answers to each of the following questions and check your answers when you click to claim your CPD certificate on the link below
 

1. How will death benefits for those that die over the age of 75 (and the benefits are settled within 2 years) be taxed?

a) Tax free up to remaining LSDBA, then marginal rate of the recipient thereafter

b) Tax free up to the remaining LSA, then marginal rate of the recipient thereafter

c) Taxable in full at the beneficiaries’ marginal rate

d) Tax free entirely

2. True or false: A small pot payment will use up LSA or LSDBA.

a) True

b) False

3. If a client has a Lifetime Allowance Enhancement Factor and is taking an UFPLS, how much of this payment can be tax free (within LSA and LSDBA)?

a) 0 - 25%

b) 25%

c) Above 25%

d) An UFPLS cannot be paid in this situation

4. Bob has protected tax free cash of £40,000 and £12,000 of LSA available. How much tax-free cash can he receive?

a) £10,000

b)  £12,000

c)  £40,000

d) £8,000

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