PRSA Query

Hi

I am self-employed and currently completing Form 11 for 2008.

In have a PRSA in to which I contributed 1100 euro for 2008.

In the PRSA section of the Form 11 (I am using the ROS offline application) I enter in 1100 in to the field labeled -
On the calculate page of the offline application, the 1100 figure is deducted from my Total Income. I thought with PRSA's you were able to claim tax credit at your marginal rate of tax - hence 10% or 41% of 1100. However the ROS offline application appears to be giving me 100% tax credit for the amount I contributed.

Could somebody please clarify

It is deducting 1100 from your total income thereby giving you 1100 less income on which you pay 41% tax, relief of 1100 x 41% or 410. To show this best, do the calc without the PRSA and then with it, the difference between the two calculations should be 410 assuming you have at least 1100 of income taxable at 41%