AVC contribution / certificate to revenue

I have made an AVC contribution that I intent to offset against my income for 2006. I have received an AVC certificate showing that I made this payment in Oct. I have been told that I must return the certificate to Revenue by 31st Oct

Can I just send in the AVC certificate to Revenue? Are there any particular forms this I need to fill in. Do revenue acknowledge receipt of the certificate. The AVC company say all I need to do is sent in the certificate. Is this true?

I also have a CGT bill to pay. Can I offset the refund due against my CGT bill.

I intend to make the return by ROS so I have untill 15th Nov to pay my tax due.

footie said:

I have been told that I must return the certificate to Revenue by 31st Oct

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Correct - if you want to claim tax relief in respect of 2006 income. Don't forget to claim PRSI relief separately one you have done this. See the key posts on this in the key posts thread.

Can I just send in the AVC certificate to Revenue? Are there any particular forms this I need to fill in. Do revenue acknowledge receipt of the certificate. The AVC company say all I need to do is sent in the certificate. Is this true?

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I would include the cert, a copy of my P60 and a brief letter explaining that I wanted to claim tax relief on the AVC in respect of 2006 income. That's what I've done in the past and it always worked for me. As I mentioned PRSI relief must be claimed separately after tax relief has been granted.

I also have a CGT bill to pay. Can I offset the refund due against my CGT bill.

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No - income tax and CGT are treated separately and you cannot offset on against the other. If you have a CGT liability then make sure to file the return and payment by the relevant dates (check other threads on this or the Revenue website).

Can I not do what I want to by completing a statement of Net Liabilities

From ROS
What is a statement of Net liabilities? The Statement of Net Liabilities was introduced so that the customer only has to make a single payment to cover the following:

• Income Tax Preliminary Tax for the current year
• Income Tax Balancing Amount for the previous year
• Capital Gains Tax for the initial period for the current year

If the ‘Income Tax Balancing Amount’ for the previous year is a Refund you should enter the amount in the value box and also enter a tick in the adjacent Refund check box. Where the Total Net Amount on the Statement of Liabilities page is a negative amount you will be brought to the Confirm Statement of Net Liabilities Only page or the Confirm Return with Statement of Liabilities Only page whichever is appropriate (you will not be brought to the Payments page).

OK - maybe I was wrong. I always believed that CGT and income tax were treated totally separately. This may be the case for PAYE but not self employed/assessed or something?