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Posted Thu, 29 Feb 2024 17:00:53 GMT by Lorraine Ames
A widow has recently inherited loyalties from her late husband that will continue for two years and we understand that they are taxable as miscellaneous income. Is this income "relevant earnings" for the purposes of making a pension contribution and receiving tax relief on it. We do not believe that the royalties are for a trading purpose but perhaps you can also clarify that?
Posted Fri, 01 Mar 2024 14:49:29 GMT by HMRC Admin 25
Hi Lorraine Ames,
As the royalties are not part of a trade/profession/salary they are not relevant earnings.
Please see:
BIM50725 - Authors and literary profits: royalties to person other than author
Thank you. 

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