Querylogger1
Registered User
- Messages
- 2
In short (because I'm on my phone!), the answer is no. The Revenue limits relate to the maximum relief you can get from your contributions.Hi
Can anyone help with a related question to this. Do the maximum % earnings limit for tax relief include the company contribution in a DC scheme ?
20% limit is on employee contributions only. I'm in same age bracket and contribute 20% myself (5% basic plus 15% AVC). Simultaneously, employer's contribution is 5%, so 25% overall. Hope that helps.Hi
Can anyone help with a related question to this. Do the maximum % earnings limit for tax relief include the company contribution in a DC scheme ?
So, my company pay a 7% standard contribution into a DC and pay another matching 3% contribution to my own 3% ? So, the total contribution is now at 13%.
I'm in the 30-39 age bracket so the limit is 20% of relevant earnings. So, to now make additional AVCs, what is the relevant limit for me ?
Is it a) 20% -13% = 7% max AVC b) 20%-3% = 17% max AVC or c) 20% max AVC
Thanks
The 20% (i.e. 5% + 15%) is obviously capped at 20% of €115k, whereas the 8% isn't.
I wonder will that be changed in the future. It seems very unfair to professions like dentists that cannot incorporate their businesses.
Some dentists do incorporate (with some planning), primarily for pension funding purposes.
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