The Money Guidance Competency Framework
Technical knowledge domains

8. Taxation

8.1.1Knowing there is an issue – awareness and signposting to relevant source and information (e.g. to websites and to HMRC website etc.)
8.1.2Awareness of tax related communications from HMRC
8.1.3Awareness of tax bands and of personal allowances (e.g. Married Couple’s Allowance)
8.1.4Awareness of saving allowances
8.1.5Awareness of issues around income tax, capital gains tax and inheritance tax
8.1.6Awareness of the differences between employment and self-employment
8.1.7Signpost or refer customers to appropriate sources of information on taxation
8.1.8Awareness of scams and what to do if a customer has been the subject of a scam
8.2.1Knowledge and understanding of tax related communications from HMRC
8.2.2Knowledge of capital gains tax calculations and what tax the customer should pay
8.2.3Knowledge of how tax bands work and of personal allowances (e.g. Married Couple’s Allowance)
8.2.4Knowledge of Stamp Duty / Land Transaction Tax
8.2.5Knowledge of rules changing
8.2.6Knowledge of how saving allowances interact
8.2.7Knowledge of issues around income tax, capital gains tax and inheritance tax
8.2.8Knowledge of the differences between employment and self-employment
8.3.1Detailed knowledge and understanding of the consequences of tax related communications from HMRC

Here you will find further information to help meet the competencies in the framework and in doing so your customers too.

It includes relevant training and qualifications to the particular domain (identified by a mapping exercise carried out in 2019). These links are provided for your information and should not be interpreted as approval or endorsement of the materials.

It also includes links to further information on a range of relevant domain topics. Many of these links go to the MAS website, where you can get up to date information on most of the topics along with links to other organisations and sources of support.

This information is by no means exhaustive but our intention is that it will strengthen and grow over the course of the future programme.

We have put together a directory of further information to help you meet the competencies in the framework that will also support the people you help too.

It includes relevant training and qualifications for each domain (identified by a mapping exercise carried out in 2019).

The links to training and qualifications are provided for your information and should not be interpreted as approval or endorsement of the materials. Before signing up, it is important to check the credentials of the organisation if you are not familiar with them.

Things to think about include:

  • Will you get professional or recognised accreditation?
  • Can you get recommendations from your network?
  • Could you negotiate discounts by grouping together with other practitioners?

There are also links to further information on a range of relevant domain topics. Many of these links go to the MAS website, where you can get up to date information along with links to other organisations and sources of support. You can signpost people to these sources or use them as a basis for direct guidance. This information will be very useful for supporting your skills and knowledge in Tiers 1 and 2 technical domains.

Bear in mind this information is intended as a starting point and we plan to add further resources as we become aware of them to create a comprehensive database that will strengthen and grow as the programme develops.

Please do let us know of any training, qualifications or information resources that you use and think would help other practitioners by sending an email to MoneyPractitioners@MaPS.org.uk.

Qualifications

LIBF Level 6 Diploma in Financial Advice

CII Level 4 Certificate in Securities Advice and Dealing

PMI Level 6 Diploma In Regulated Retirement Advice

Training

Tax Help – Tax Help for Older People – An Introduction

Tax Help – Tax Training

Tax Help – Tax Awareness Course

Tax Help – Financial Advisors Course

The Money Advice Trust – Wiseradviser – Introduction to money advice (England & Wales)

The Money Advice Trust – Wiseradviser – Introduction to money advice (Northern Ireland)

The Money Advice Trust – Wiseradviser – Introduction to money advice (Scotland)

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