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Sorry, I should have stated that this is case study 3, question 3. Many thanks.
I’ve looked again and realised that where it says ‘therefore his IP 2014 protected LTA is 1.25m, is a typo, it should have said IP 2016 protected LTA.
However, I still don’t understand why it doesn’t take account of the BCE taken in June 2015. Therefore in question 4, surely he has used up more than 72.72% of his LTA?
The June 2015 BCE was taken by Chris, not Matt. The first two questions were about Chris, 3 and 4 are about Matt.
Andrew Houghton, FPFS
D’oh! Yes, of course, looking too hard!
Many thanks, Lindsey
I’ve looked at question 3 and unfortunately can’t make sense of the model answer.
It states Matt has no further BCE’s before April 2016, but he has had a BCE in June 2015?
The question asks what is Matt’s protected LTA and relevant amount for IP2016 but the model answer states his IP14 protected LTA is xxx & relevant amount for IP16 purposes is xxx.
I’m so confused. Why is IP14 & IP16 quoted and why was first BCE in June 2015 disregarded?
Many thanks, sorry to be asking late on Sunday night.