|
Update posted |
UPDATED INFORMATION |
Syllabus reference |
Official Training Manual ref. |
Impact on live testing |
| 23/10/2008 |
UPDATE The government has announced that the Stamp Duty Land Tax (SDLT) threshold for land transactions consisting entirely of residential property will be increased from £125,000 to £175,000 for transactions with an effective date (normally completion) after 2 September 2008 and before 3 September 2009. |
4.b.3 |
OTM Volume 1, page 118 after the table showing SDLT thresholds | Where applicable, questions will reflect this update from 1 March 2009 |
|
23/10/2008 |
OTM AMENDMENT The clearing house is the TSE itself The clearing house for trades in Japanese stocks is the Japan Securities Clearing Corporation. |
3.b.1 |
OTM Volume 1, page 102 in section (ii) Japan, 2nd paragraph | Where applicable, questions will reflect this update from 1 March 2009 |
|
23/10/2008 |
OTM AMENDMENT In general, French government bonds are bearer bonds, and are settled one business day after the transaction. |
3.b.1 |
OTM Volume 1, page 104, under heading ‘Bonds’, 4th paragraph |
Where applicable, questions will reflect this update from 1 March 2009 |
|
14/10/2008 |
OTM AMENDMENT Change in equation: £751.23 £751.32 |
2.b.2 (iii) |
OTM Volume 2, page 30, second example equation |
No impact on live testing |
|
09/02/2009 |
OTM AMENDMENT In the worked example on page 123 of Volume 1 of the OTM a nominal Corporation Tax Rate of 30% is included. Note that the current correct rate is 28% and this is used in all other relevant sections of the OTM. |
4.c.i |
OTM Volume 1, page 123 |
No impact on live testing |
|
11/02/2009 |
OTM AMENDMENT 7.c.1 1. Profit is defined as sales revenue less costs less debt interest less corporation tax. Trading (operating profit) is profit before deduction of overheads, interest and tax. Trading (operating) profit is profit before deduction of interest and tax. |
7.c.1 |
OTM Volume 2, page 186 |
Where applicable questions will reflect this update from 1 June 2009. |
|
01/04/09 |
OTM AMENDMENT
Line 5: change ‘£35,800’ to ‘£34,800’ Line 7: change ’£35,800’ to ’£34,800’ |
4.b.2 |
OTM Vol 1,
page 115 |
Where applicable questions will reflect this update from 1 June 2009. |
|
01/04/09 |
OTM AMENDMENT Line 3: change ‘discretionary’ to ‘advisory’ |
5.a.6 |
OTM Vol 1, page 143 |
No impact on live testing |
|
01/04/09 |
OTM AMENDMENT
Key facts 5.a.8
‘The largest institutional funds in the UK are pension funds followed by insurance funds…’
‘The largest institutional funds in the UK are pension funds and life insurance funds, followed by…’ |
5.a.8 |
OTM Vol 1, page 151 |
Where applicable questions will reflect this update from 1 June 2009.
|
|
01/04/09 |
OTM AMENDMENT The answer to Q 11 should be (c) rather than (d) |
Unit 1 mock exam |
OTM Vol 1, page 156 |
No impact on live testing |
|
02/06/09 |
OTM AMENDMENT
Figure 8.7 is missing from page:
|
8.a.4 |
OTM Vol 2, page 211 |
No impact on live testing |
|
02/06/09 |
OTM AMENDMENT
Key fact 2: change ‘principle’ to ‘principal’ |
1.b.8 |
OTM Vol 1, page 80 |
No impact on live testing |
| 02/06/09 |
OTM AMENDMENT
Percentages in the table do not agree with those in the narrative above the table.
Table on page 122 should read: (Figures in £000’s) Pre-tax profits: 2000 UK corporation tax liable (@ 28%): 560 less double taxation relief (@ 24%): 480 UK tax payable: 80 |
4.c.1 |
OTM Vol 1, page 122 |
No impact on live testing |
|
02/06/09 |
OTM AMENDMENT
Para . beginning ‘What few private investors fail…’
Change ‘few’ to ‘many’. |
5.1a.3 |
OTM Vol 1, page 133 |
No impact on live testing |
|
02/06/09 |
OTM AMENDMENT
The figures for land and property should be Pension Funds: 48.5 Insurance-life: 61.29 Insurance funds-general: 1.47 |
5.a.5.ii (a) |
OTM Vol 1, page 141 |
No impact on live testing |
|
02/06/09 |
OTM AMENDMENT
The lastsentence on the page: 1.4% should be 14%. |
5.a.5.ii (b) |
OTM Vol 1, page 141 |
No impact on live testing |
| 28/10/09 |
OTM AMENDMENT 4. The OFT has a duty to investigate all mergers where the target company has a UK turnover of in excess of £70m or the merged company will control greater than 25% of the UK market. |
1.c.4 | OTM Vol 1, page 82 |
No impact on live testing |
IMC: Market downturn and risk, a summary