I put a lump sum into my AVC and have a receipt dated 31/10/2007. I was of the impression that this could be considered for tax relief in the tax year ended 31/12/2006. I have now been informed that because I did not submit the receipt before 31/10/2007 I cannot reclaim back the tax. Can anybody advise ?
late AVC tax approval ?
- Thread starter beekeeper
- Start date
Are you self employed or PAYE? In the past I (PAYE) have done this (contribution before 31st October but claimed later) and it was OK. But the rules may have changed and perhaps you need to get the claim in before the deadline too now? There was extended discussion about this around the time of this year's deadline and I expressed the same surprised/point of view but I'm not sure what the outcome was.
Exact same happened to me. Revenue have applied the amount to 2007 because they received details of my contribution in November, and would not consider the fact that it was received by the PRSA provider in October. They informed me that if I want to do this, I would have had to inform them prior to Oct 31 that I will be applying for back-dated tax relief.
Rang the PRSA provider - the first person told me she had Eur 2 million worth of claims still to be processed for 2006, and there should be no problem. Her superior confirmed that in theory the Revenue should be informed prior to Oct 31.
Rang the PRSA provider - the first person told me she had Eur 2 million worth of claims still to be processed for 2006, and there should be no problem. Her superior confirmed that in theory the Revenue should be informed prior to Oct 31.
OK - probably just a case of Revenue misinformation. I forgot to say that the first time I tried this the lady in Revenue told me that only self employed people could claim such relief (a lot the documentation would also give this impression and October 31st is always referred to as the self employed tax deadline etc.). I asked her to double check so she did with another colleague, came back and said "you're right - I didn't know that - you learn something new every day" and then processed my claim. 
Clubman, what do you mean ? You think that Revenue have made a mistake in not allowing a claim for 2006 tax refund after Oct 31 ?
Maybe. I certainly processed claims in that manner in the past as explained earlier. Unless they have changed the rules whereby PAYE workers making a lump sum pension contribution before October 31st in order to set it against the previous tax year's income must also have the tax relief (and PRSI/health contribution?) claims in before that date too then it may just be Revenue giving out incorrect info. The last time I did this but put the tax relief claim in after October 31st was c. 2005 if I recall correctly. Maybe somebody else can comment authoritatively on whether or not Revenue have changed the rules on the timing of contributions and claims?