Hi, This question involves a tax calculation. I am a bit confused as the investor has a Fixed Income Fund which has a valuation at the end of each year. I did not include this in my calculation because there is no explicit tax rate for this type investment, other than the interest income which is shown as a separate value. However, the solutions state that the FI fund should be treated as an overseas investment but I can't find any mention of this or hint in the question. Is there something I'm missing? Thanks, M
Hi, No not really. It wasn't clear how to treat the FI fund. The examiners intended for it to be treated as overseas investment but they credited fully any answers where no tax was applied to these assets. The revision booklets are brief and cover the main solution. If you feel you have taken a valid approach not shown there you may want to have a look at the examiners report which in recent times has included useful comments on approaches students took and any alternatives to the main solution that get full credit. Joe
hi Joe, many thanks for coming back. Good to know that it wasn't just me misunderstanding. Will also look at the examiner reports for details on questions.
