Calculation of Aidan Holmes' Case V income for 2023:
Property A:
Rental income from October 2022 to March 2023: 6 months x €1,000 = €6,000
Rental income from May 2023 to December 2023: 8 months x €1,200 = €9,600
Total rental income from Property A = €6,000 + €9,600 = €15,600
Expenses:
Mortgage interest for 2023 = €6,000
Cleaning and redecoration costs = €2,000
Net income from Property A = €15,600 - €6,000 - €2,000 = €7,600
Property B:
Rental income from April 2023 to October 2023: 7 months x €1,250 = €8,750
Expenses:
Maintenance and insurance expenses = €3,000
Net income from Property B = €8,750 - €3,000 = €5,750
Property C:
Rental income from April 2023 to December 2023: 9 months x €2,500 = €22,500
Expenses:
Loan interest for 2023 = €3,300
Cleaning and advertising costs = €1,000 + €500 = €1,500
Other expenses = €2,000
Net income from Property C = €22,500 - €3,300 - €1,500 - €2,000 = €15,700
Property D:
Rental income from August 2023 to December 2023: 5 months x €3,000 = €15,000
Expenses:
Annual management charge = €1,000
Waste disposal costs = €2,000
Net income from Property D = €15,000 - €1,000 - €2,000 = €12,000
Total Case V income for Aidan Holmes in 2023:
€7,600 (Property A) + €5,750 (Property B) + €15,700 (Property C) + €12,000 (Property D) = €41,050