40%What rate of tax relief will I get on these contributions to the AVC ?
How would they get 40% relief if their marginal rate of tax is 20%?
Really?How would they get 40% relief if their marginal rate of tax is 20%?
My income from employment is circa e40k.
I also have rental income of circa e80
assuming its e80 per month rental income so still below 42kReally?
If it's that low, it's hardly worth noting for the purposes of this exercise.assuming its e80 per month rental income so still below 42k
Until they clarify, their question is essentially unanswerable.Would guess it got fat fingered and poster meant either 800 pm or 8k annually?
rental income would need to be >16k per year to get 40% tax relief for 35% of 40k salary (14k) - would need total income of 56kWould guess it got fat fingered and poster meant either 800 pm or 8k annually?
Apologies for the confusion. Fat fingers it is. The rental income is e80,000 per annum.Until they clarify, their question is essentially unanswerable.
Thanks Torblednam, I just got off the phone to Cornmarket who couldnt even engage with the question. All they would look at was the std rate cut off per my payslip, which is just an arbitrary figure allocating credits between PAYE income and rental income.The relief will be at your marginal rate of tax; the components of your income are only relevant for the purpose of calculating the net relevant earnings and age related limits.
Do you have a reference for the above.
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