Our client left the UK in June 2010 to retire in Spain. He had been & continues to pay gross premiums to an old style Retirement Annuity Contract. His only income in the UK is pension income (minimal) & rental income (in excess of the personal allowance).
Is he able to continue making contributions to the RAC as a non resident indefinitely?
Can tax relief be claimed on the gross contributions?
Does rental income count as UK relevant earnings?
Replies (1)
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No luck
Rental income doesn't count as NRE, even though it's now classed as "similar to Schedule D". It's still Schedule A for NRE purposes.
Office, Employment, Trade and Patent Rights are all OK.