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R03 – Personal Taxation

£45.83 + VAT

Ever though there must be an easier way to prepare for your CII R03 exam?

Our R03 audio study guide has around 5 hours of material and includes the key content from the CII R03 study text. It is suitable for exams until 31 August 2024. It can be downloaded almost instantly and then played through your computer or sync’d with your mobile device. This enables you to study when conventional methods aren’t available, for example when commuting.

Based on a survey of people who purchased our MP3 material, 80.95% passed the exam they bought material for.

Sample of our R03 Personal taxation audio material – click play to listen

What you need to know about the R03 exam

R03 is one of the six modules that go to make up the CII's Regulated Diploma in Financial Services.

Here is some of the information you will need to know in order to pass R03 exam first time.

What does R03 examine?

The CII's R03 exam tests your knowledge of personal taxation. There are four elements to the R03 syllabus:

  1. The UK tax system for individuals and trusts
  2. The taxation of investments for individuals and trusts
  3. The relevance of tax in the financial affairs of individuals and trusts
  4. Apply knowledge of taxation to financial planning

For full details of the syllabus, click here

How difficult is R03?

The R03 exam is one of the hardest of the CII's R0 subjects. In simple terms, just over a half of the people who sit it will pass.

2022 2021 2020 2019 2018 2017
54% 57% 65% 56% 52.55% 48.71%

Source: CII website

What's the format of the R03 exam and the pass mark?

R03 is based in 50 multiple choice questions. The exam is 1 hour long and you will need to score 65% or more to pass the exam.

The R03 exam uses two types of multiple choice questions; standard format and multiple response format. With standard format questions, you will be given four options and only one will be correct. In R03, 39 of the 50 questions will be of this type.

The second style of question is the multiple response questions which are harder to answer.  To start off with, there will be more than four options - so there is less chance of taking a guess and getting the right answer. Secondly, if there are two correct answers, you will need to get both of these correct in order to get a mark. In R03, there will be 11 multiple-response questions.

With either format, a wrong answer will fail to get a mark. In other words, marks aren't deducted for incorrect answers - you just fail to get a mark. So if you don't know the answer, you might as well guess. You have nothing to loose!

What do I need to do to pass R03 first time?

You will need decent all-round knowledge and you will have practised answering R03 style questions.

The CII recommend 50 hours of study. If you are new to the profession, you will probably need all of this time and more. You will also probably have to use a range of study options. These include:

  •  Our MP3 audio material. This provides around 5 hours of content that helps you to study while driving, commuting, working out....
  •  CII R03 study text. There are no short cuts. Most people will need to put in some hard yards using this as the primary source of learning.
  • CII Revisionmate. If you purchase the CII study text, you automatically get access to their on-line bank of test questions. This provides an invaluable and 'free' way of both learning (through making mistakes) and testing the knowledge of what you have learned.

To hear how to pass the R03 exam, click here

To access free R03 exam practice questions, click here


R03 Personal Taxation. Size: 13 modules, over 5 hours of material
Download time: approx 2 minutes over high speed broadband

Please note: After purchase you will receive an email that includes the download link to the R03 Personal Taxation material within just minutes. If you don't receive this in your inbox, please check your spam folder.

Introduction (2 minutes)

Module 1 (10 minutes)
R03: the exam and preparing for it CII Regulated Diploma exam structure | the R03 personal taxation exam | multiple-choice questions | exam preparation | 7 golden rules for the exam

Module 2 (29 minutes)
Income tax Direct and indirect taxes | types of taxable income | rates of tax | deductions from income including pension contributions | benefits in kind | personal allowances

Module 3 (22 minutes)
Income tax calculations Non-savings, savings and dividend income | personal allowance | the 6 steps for calculating income tax | taxation and family members | 5 broad types of trust – how they are taxed

Module 4 (15 minutes)
National insurance Income subject to NI | class 1 and 1A | IR35 | class 2 | class 3 | class 4

Module 5 (26 minutes)
Capital gains tax What is a disposal? | valuing assets | chargeable and exempt transfers | private residences | 6 steps to calculating CGT | CGT reliefs | payment of CGT | CGT and the five trusts

Module 6 (28 minutes)
Inheritance tax Cumulation | exempt transfers | PETs | chargeable lifetime transfers | transferable nil-rate band and residence nil-rate band| IHT reliefs | gifts with reservations | POAT | valuation of transfers | IHT and the five trusts

Module 7 (24 minutes)
Residence and domicile The three residency tests | ordinarily resident | domicile | non-resident | non-doms | remittance basis | self-assessment | double taxation

Module 8 (19 minutes)
Tax compliance and self assessment Self assessment and important dates | payments on account | penalties | PAYE | tax avoidance v tax evasion | the Ramsey principle | disguised remuneration

Module 9 (21 minutes)
Stamp duty, VAT and corporation tax Stamp duty: rates, stock transfer | VAT: output and input amounts, registration, rates, administration | Corporation tax: assessing liabilities, rates, dividends, close companies

Module 10 (18 minutes)
Tax treatment of direct investments
Savings: interest, fixed interest, national savings | equities | property: buy-to-let, rent-a-room | furnished holiday lets

Module 11 (32 minutes)
Tax on indirect investment products Registered pension schemes | ISAs | OEICS and unit trusts | reporting and non-reporting funds | qualifying life policies | friendly societies | annuities | overview of life policies under trust | indirect property investments: REITS, insurance funds, investment trusts | EIS and SEIS | VCTs

Module 12 (21 minutes)
Tax affairs and tax planning for individuals and trusts Tax mitigation strategies: income, CGT and NI | estate planning | tax efficient investments | overseas investments

Module 13 (26 minutes)
Crammer module This consists of the summaries of the previous modules. It provides a quick recap of the key points from the full R03 programme.