HI. I've managed to tie myself up in knots over this question . I'm sure the answer is probably simple but i can't see it.
My husband contributes to a PRSA monthly and his employer also contributes. He does not max out his 40% tax relief with the monthly contributions but at the end of each year, for the past few years, he makes a single premium contribution to his PRSA for as much as he can afford.
What is the difference between making an additional single premium contribution to the PRSA and taking out an AVC? Is there a difference?
Thank you.
My husband contributes to a PRSA monthly and his employer also contributes. He does not max out his 40% tax relief with the monthly contributions but at the end of each year, for the past few years, he makes a single premium contribution to his PRSA for as much as he can afford.
What is the difference between making an additional single premium contribution to the PRSA and taking out an AVC? Is there a difference?
Thank you.