LPT: Elected to have it paid from salary. How does this work?

[MrEarl]

Hello,

I made a return online. From the options offered, I elected to have it paid from salary.

Has anyone else done this and if so, is it simply a case of the Revenue amending my TFA for the remainder of the year, then notifying both myself and seperately my employer of the new (reduced) level of tax relief, so I pay more in tax or how is it done please ?

Thanks

Mr. Earl.

 

[gipimann]

It will be a deduction from net salary, similar to deductions which you may have for union dues, health insurance, etc. Revenue will send the equivalent of a direct debit mandate to your employer.

This link explains the process for employers:

http://www.revenue.ie/en/tax/lpt/employers-pension-providers.html

 

[ajapale]

Mr Earl,

Ive split out your interesting question.

aj

 

[MrEarl]

Mr Earl,

Ive split out your interesting question.

aj

OK, thanks.

It will be a deduction from net salary, similar to deductions which you may have for union dues, health insurance, etc. Revenue will send the equivalent of a direct debit mandate to your employer.

This link explains the process for employers:

http://www.revenue.ie/en/tax/lpt/employers-pension-providers.html

Great, many thanks.

Regards

Mr. Earl.