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Currently we are not able to show some detailed information for Retirement Account performance for clients. This will be restored on 13 December 2021. We're sorry for any inconvenience this causes.

Onshore…Offshore – you decide!

Check your answers

 

1. The gain calculation for full surrender of an Insurance Bond is?

a. Surrender value, less premium(s) paid, plus previous excess gains

b. Surrender value, plus previous withdrawals, less premium(s) paid, less previous excess gains

c. Surrender value, plus previous excess gains, less previous withdrawals

d. Surrender value, less premium(s) paid, less previous excess gains

 

2. Chargeable event gains on UK Bonds are not liable to basic rate tax. This reflects the fact that the funds underlying a UK policy are subject to UK Life fund tax?

a. Those underlying funds will be taxed at 20%

b. Those underlying funds will be taxed at 19%

c. Those underlying funds will be taxed at an effective rate lower than 20%

d. Those underlying funds will be taxed at 25%

 

3. With regard to the taxation of company owned bonds, the loan relationship rules apply. That means?

a. The tax treatment follows the accounting treatment

b. The accounting treatment follows the tax treatment

c. The company is taxed under the same chargeable event rules that apply to individuals and trustees

d. No tax is payable unless a director has loaned money to fund the bond application

 

CPD certificate

Before collecting your certificate please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk

Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when making contact with us.

"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company. The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.