01 July 2009

High-rate help

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. At what income level will the 50% tax rate start?

  2. What is the highest marginal combined tax rate in 2011/12?

  3. What is the individual limit for EMI?

  4. If someone has 'relevant income' of £180,000 net in 2012/13 how much tax relief will they get for pension contributions?

  5. A share option is granted with a zero exercise price in 2005, vests in 2008, is exercised in 2010 and sold in 2015. When does income tax become payable?

  6. If a 50% rate taxpayer sacrifices £20,000 of salary in 2010/11 to invest in employee shares, how much tax will they save?

  7. If a 50% rate taxpayer sacrifices £20,000 of salary in 2010/11 to supplement their standard pension contribution of £30,000, how much tax will they save?

  8. Which of the following can be paid tax-free?

  9. Which of the following can be given tax-free?

  10. An individual with total net income of £108,500 will have a reduction in his or her personal allowance of:

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