RO3 (Personal Taxation) Pre Exam Training - online distance learning event

RO3 (Personal Taxation) Pre Exam Training, Wednesday 10th May 2023

The Personal Finance Society Hants and Dorset, Surrey & Thames Valley Regional Committees in association with the Insurance Institutes of Bournemouth, Guildford, Reading and Southampton have organised a training day for those members who are studying for and taking the RO3 examination.

This event will be run as an Online Distance Learning event.

The cost of the day’s training will be £149 for Hants & Dorset, Surrey and Thames Valley PFS members, £149 for all other PFS members and £159 for non-PFS members. There is a maximum of 16 attendees. If we are oversubscribed, you will be placed on a waiting list.

We reserve the right to cancel this event should there be less than 6 delegates attending. Should this occur a full refund or transfer to an alternative course will be offered and some supporting material, at no extra cost, will be sent to the enrolled delegates.

The day will commence at 0930 sharp and finish by 1630, with breaks timetabled for lunch etc throughout the day.

The course is recorded and a copy sent out to all delegates.

A one day event to cover the main topics tested in RO3.

Session 1: Income Tax and NIC

Session 2: Capital Gains Tax, Residence and domicile

Session 3: Inheritance Tax plus miscellaneous taxes (VAT/Stamp duty/Corporation Tax)

Session 4: Taxation of Investments & Trust Taxation

Session 1

Income Tax

• The four types of income and the order of taxation

• Non savings income including trading exemption

• Savings income. Personal Savings Allowance and 0% starting rate.

• Dividend income and Dividend Allowance

• Tax benefits of pension contributions and gift aid

• Adjusted Net Income and its impact on Personal Allowance and Child Benefit

• Marriage Allowance and children’s income

• PAYE and Self-Assessment

National Insurance

• The four classes of NI

• How to calculate NIC for an employed and a self-employed person

Session 2

Capital gains tax

• What assets are taxed and which are exempt

• Exempt disposals

• The basic calculation

• The treatment of losses

• Inter spousal transfers

• CGT and chattels

• Principle Private Residence Relief

• Entrepreneur Relief

• Basic CGT planning

Residence and domicile

How residence and domicile are established

The impact of residence and domicile on Income tax and CGT

Session 3

IHT

• What IHT seeks to task

• The three types of lifetime gifts

• The basic IHT death calculation

• How to calculate transferable Nil Rate Band

• How to deal with outstanding PET and CLT

• Charitable donations and the 36% rate

• Business Relief

• Basic IHT planning and mitigation

Miscellaneous taxes

An outline of VAT. Stamp duty land tax, stamp duty reserve tax and Corporation Tax

Session 4

Taxation of investments

• Unit trust/OEIC taxation

• ISA including Lifetime ISA

• Investment Bond taxation (on and offshore)

• Property exemption, Rent a Room Relief & Real Estate Investment Trusts

• VCT, EIS & SEIS

Trusts

• Outline the three types of Trust, Absolute, Interest in Possession and Discretionary

• Taxation of Income and gains

• IHT and trusts, difference between Relevant and Non-Relevant trusts

By the end of the course, delegates will have covered the key elements of the RO3 syllabus with the emphasis on the CII Learning Outcomes.

Our 2023 online revision programme is being co-ordinated by Dean Scott and L&D Digital Solutions. The course trainer is Dean Scott PFS, whose company provides comprehensive financial services training to the CII, PFS Regions, Networks and large adviser companies.

Any questions please email the Personal Finance Society Hants and Dorset Regional Committee on hantsanddorsetpfs@outlook.com.

To book your place, please follow this link:

R03 - 10th May