Key Post: Claiming prsi relief on standalone prsa contrib

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Ceist Beag

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Sorry if this is a simple question but can anyone tell me how I claim tax relief on my prsa contributions? I am not in the company facilitated scheme so I need to claim the tax relief myself. I have the PRSA 1 certificate from my prsa provider but I'm not sure where to go from here! Also does anyone know if/how we can claim relief on prsi payments as well?
 
Re: Claim tax and prsi relief on standalone prsa contributio

Sorry if this is a simple question but can anyone tell me how I claim tax relief on my prsa contributions?
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Write to the Revenue including a copy of the PRSA1 (and a copy of your 2003 P60 if you have it) and they should (a) refund any tax overpaid for last year and (b) adjust your 2004 tax credits to give you tax relief for ongoing PRSA contributions.

Also does anyone know if/how we can claim relief on prsi payments as well?
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Yes. Although the administrative arrangements are not yet in place as of October 2004
 
Re: PRSI relief on Personal Pensions

Thanks for your help in this O. I sent off the relevant details but I still haven't heard back from revenue on this. How long does it normally take to get set up for the relief (and lump sum payment)? I sent the details almost 7 weeks ago!
 
Re: PRSI relief on Personal Pensions

It is possible to claim tax relief AND PRSI/health levy relief on "standalone" PRSA and personal plan (as far as I know) contributions. Tax relief can be obtained by writing to one's normal tax office with the relevant information (e.g. P60 for relevant year, expected earnings/payslips for current year, PRSA1 certificate etc.) and the relief will be granted by way of a refund (for previous years) or an adjustment to one's tax credits (for current year). For PRSI/health levy relief contact the PRSI Refund Section in Sarsfield House, Limerick (see www.revenue.ie for contact details). In my case they simply passed it on to the Social Welfare's PRSI refunds section (see www.welfare.ie ) but I'm not sure if you have to go through Revenue first. I'm still waiting for word back from SW though ... :|
 
Re: PRSI relief on Personal Pensions

A warning to anybody attempting to claim PRSI/health levy deductions on "standalone" PRSA payments - I got this letter from Welfare yesterday:

Dear Sir,

I acknowledge receipt of your letter of 17th May 2004 regarding refund of PRSI contributions on approved pension contributions that are paid off-payroll which was received in this section on 8th June 2004.

[Note: I originally wrote to Revenue in Limerick and they forwarded the application to Welfare]

Administrative arrangements for processing PRSI refunds on approved pension contributions that are paid off-payroll are currently in the course of being finalised. As soon as the new arrangements are in place you will be contacted and advised how to progress your claim for a refund.

Yours etc.
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Re: PRSI relief

Hi Anon, have you heard anything back from Welfare on this yet?
 
Re: PRSI relief on Personal Pensions

Nope! :| Nearly time to write another letter to SW...
 
According to a response that I received from the Department of Social and Family Affairs today, procedures are still not in place for the processing of claims for PRSI refunds on pension contributions made off payroll.
 
Re: PRSI relief on Personal Pensions

According to the person in Revenue that I spoke to today, they will be handling this from January next year (i.e. in 4 weeks time!). You have to submit your P60 and a form which I presume to be the PRSA proof of contribution form (I think she called it a 1043 form or something?) to receive the refund.
 
Re: PRSI relief on Personal Pensions

According to the person in Revenue that I spoke to today, they will be handling this from January next year (i.e. in 4 weeks time!). You have to submit your P60 and a form which I presume to be the PRSA proof of contribution form (I think she called it a 1043 form or something?) to receive the refund.

Really? Seeing that this is a PRSI rather than a tax matter, and notwithstanding the fact that Revenue do collect/process PRSI payments, I didn't think that such refund applications would be processed by Revenue at all but rather by the Department of Social & Family Affairs!?

For sure, Revenue previously passed my application for a refund of PRSI onto the Department of Social & Family Affairs and effectively washed their hands of it and it's still in limbo somwehere down in Pearse Street... :\

Are you sure that the form isn't simply the PRSA1 certificate?
 
Re: PRSI relief on Personal Pensions

Yeah it was the PRSI refunds department in Revenue that I spoke to (after being passed there by the Social Welfare dept) - the number for them (in Limerick) is 061 310310. It could be the PRSA1 certificate she meant - to be honest it was only afterwards I stopped to wonder what the form she mentioned was - I'll ring back before posting off anything just to confirm!
 
Just to follow up on this one - I too received a letter from the Department of Social & Family Affairs, PRSI Refunds Section informing me that procedures have been put in place for the processing of "off payroll" pension contribution PRSI refunds and that these will be dealt with by the Collector General, PRSI Refunds Section, Sarsfield House, Francis Street, Limerick. They have informed me that my application, which was originally passed onto the DSFA by Revenue will now be passed back for processing.
 
Personal Pensions

Does anyone know whether this also applies to contributions made to personal pensions also. Also, can PRSI be claimed for recent years ( I think my pension is 4 years old?)

dk
 
Re: PRSI relief on Personal Pensions

Yes you can claim PRSI relief on Personal Pensions but only if you were in PAYE employment. A claim can only be backdated to 1/1/2004 which is when this claiming of PRSI relief became possible.
 
Re: PRSI relief on Personal Pensions

Another follow up - received a letter from Revenue the other day informing me that my claim for PRSI relief in respect of off payroll pension contributions in 2003 is currently being processed and that once I provide them with a copy of my 2004 P60 they can get cracking on my 2004 contributions too. Wait and you shall receive... :|
 
Hi Clubman, can you tell me what you had to send to the PRSI Refunds Section in order to get your refund for 2003? Did you have to send in your P60 from last year? Were any other forms or documents needed (apart from your PRSA account number and provider I guess)?
 
Re: Personal Pensions

I sent them a letter containing details of the relevant PRSA and RAC contributions including copies of the relevant PRSA1 and RAC certificates as well as a copy of my P60 and this seems to have been sufficient for them to initiate processing of the 2003 claim. For the 2004 claim they still need my P60 which I have not yet received from my (now former) employer but which is due this week.
 
Re: PRSI relief on Personal Pensions

Anybody know from what tax year PRSI reclaims on standalone PRSAs or RACs apply? Somebody mentioned 2004 onwards to me but they weren't sure and, as I mentioned above, I have received a refund in respect of 2003 while my 2004 reclaim is waiting on my P60. I just wondered if I could claim for years prior to 2003 too!
 
Re: PRSI relief on Personal Pensions

Just off the phone to the collectors general in Limerick.
Two things

1)Claims can only be made on contributions from Jan 03 onwards
2)You MUST have received a tax rebate before you can claim the PRSI back

All you need to send to them is a photocopy of your P60 and a covering letter to them
 
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