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Hi,
I don’t understand why the warehouse letting is not considered for the net relevant earnings in this question? could you please kindly help me with this question?Griff is employed by Gargoyle plc on an annual salary of £50,000. In addition Griff lets out:
1. qualifying furnished holiday accommodation which generates taxable income of £5,000 per annum and a
2. warehouse, to a local business, which generates taxable income of £8,000 per
annum.In 2014/15 he made a £4,000 (gross) donation to a national charity under the Gift Aid
scheme.
What are Griff’s net relevant earnings for 2014/15?
A £51,000
B £63,000
C £59,000
D £55,000warehouse letting comes under property income so we dont take it
And there is a limit for contributing to pension scheme (i.e) higher off;(A) individuals relevant uk earnings (B) basic amount (gross) 3600
Relevant uk earnings- employment income, trading income, furnished holiday letting
furnished holiday letting is something like holiday cottage and warehouse is not holiday inn
so i think answer is 55000
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