AVC - Income Tax Return Query

CarlosMo

New Member
Messages
1
Hi

I am submitting an income tax return via ROS for 2020 for a private pension and I am unsure what values to enter in a number of the form fields i.e. please see attached. What do I enter in the "Net relevant earnings" field?, is this the total 2020 annual take home pay i.e. salary minus all deductions?. take home pay might also include deductions such as cycle to work scheme (deductions for a new bike), or other scheme deductions, is it correct to enter the annual net pay /take home pay i.e. after all of these deductions, in the "Net relevant earnings" field?

Also for example, why does the form ask for "Amount paid between 1/1/2021 - 31/10/2021......" if the income tax return is being completed for all of 2020, not 2021?.

Again, attached is the ROS form in question.
Thanks for reading
 

Attachments

  • Screenshot_2023-10-26-22-24-58-65_965bbf4d18d205f782c6b8409c5773a4.jpg
    Screenshot_2023-10-26-22-24-58-65_965bbf4d18d205f782c6b8409c5773a4.jpg
    997.4 KB · Views: 109
For me the "Employment gross income" already includes those deductions so I repeat the amount in "Net relevant earnings" and it gives the right tax relief.
 
For your second question, you can make an AVC between 1/1/2021 - 31/10/2021 and use it to claim tax relief in your 2020 tax returns. I.e. in general, you can make an AVC up to 31 October in current year and use it to claim tax relief in previous year's returns. By waiting until the year has finished, you know exactly how much tax relief that you have remaining.
 
Back
Top