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Hi, I am struggling to conceptually understand the blagab and non-blagab taxations. Can someone provide a simple example (numerical, really find...
Hi, I am confused with question 7.2 & 7.3 answer (as well as explanation in page 8 BLAGAB) example q7.2: BLAGAB I-E = 520 BLAGAB profit * = 250...
Hi all The Core Reading (SA3 chapter 3 end of page 10 in CMP) mentions the "loss absorbency capacity for deferred tax" - what is it and how is it...
4. Good X has a price elasticity of demand equal to –1.5. In such circumstances, a per unit sales tax on Good X of £5 will lead to which of the...
If a with-profits fund becomes XSE in run-off, can it remain XSE and not pay BLAGAB tax for the rest of the fund's existence? I ask because for...
I understand that there have been a number of changes to the chapters on taxation. In the past exam papers, April 2010 and April 2013 have...
Q7iii of September 2009 discusses how the assumptions under embedded value compare to those used to calculate any supervisory reserves. For tax...
Under blagaab, if min profit is negative we will only pay policyholder tax rate and carry forward 50% of loss or upto 50% of next year profit?...
Hi, Ref: CMP, Ch5, p.11, bottom paragraph Could you please clarify the mechanics of tax deductibility of pension contributions? I have check my...
Hi, Ref: CMP, Ch5, pp.6,7 On page six, the timescale condition says "on surrender...within 10 years or three-quarters of the term if less..."...
Hi, Another one on tax and minimum profit. Ref 1: CMP, Ch7, p.11 (s5.2, first bullet point) If MP does not bite, corporation tax is paid on...
Hi, Ref: CMP Ch6, p.13 End of first bullet says: "Neither can you use BLAGAB XSE to offset BLAGAB trading profits." Second bullet says:...
Hi, Reference: CMP, Ch6, p.7 Am I to understand from this that of each annuity payment, the policyholder pays tax on the income component and...
Hi! Reference: CMP Ch6 pp.2-3 Just to clarify what's in/out post 1 January 2013, does "BLAGAB" now only comprise: - Non-pension,...
For life assurance contracts, tax is payable on the chargeable gain = benefit - less total premium paid. In the case of part surrenders, the...
Hi, I was just reading the notes about taxation and was struggling to understand the reasoning behind one of the rules for a contract to be...
Hi Could anyone list the products which falls under BLAGAB only? I understand protection business is no more BLAGAB under new rules. Thanks
I understand the theory behind pricing on an offer basis when there's unrealised losses (and the losses are expected to turn into gains) - and...
Hi all, I'm looking at chapter 9, section 2, which states that since Jan 2013 trading profits for non-BLAGAB taxation are based on statutory...
According to this website: http://www.pensionsadvisoryservice.org.uk/about-pensions/saving-into-a-pension/pensions-and-tax/tax-on-investments...
Chapter 5: Policyholder taxation, Pension contracts Are the following numerical examples correct? Individual is a 40% tax payer Example 1 A...
