Hi all, I have a pension plan with standard life called a synergy personal pension [link]. At the start of each month, I pay into it with my net earnings. I want update revenue so I can get tax relief on the plan but revenue have asked me what kind of pension it is and I haven't a clue. Does someone know if it is a PRSA, RAC, AVC or something else?
And when they say tax relief, I assume it's that you don't pay income tax on it. So if I was earning 30k a year, I would get 20% off my payments and if I was earning 70k a year I would get 40% off?
Thanks for the help!
And when they say tax relief, I assume it's that you don't pay income tax on it. So if I was earning 30k a year, I would get 20% off my payments and if I was earning 70k a year I would get 40% off?
Thanks for the help!