Tax Back on Pension Top Up

[rintpete]

Hello

I would like to top up my Pension AVC for 2006. I estimate that I can contribute another 3000 Euros and be within the limit for my age.

The questions I have are:
1. How do I claim PAYE Tax Back?
2. How do I claim PRSI Tax Back?
3. Is there a deadline (e.g. Oct 07)?

Thanks
RintPete

 

[ClubMan]

1. How do I claim PAYE Tax Back?

You write to Revenue explaining that you want to set this against your 2006 tax, include evidence of payment and maybe a copy of your P60 and ask them to prepare a P21 balancing statement to process the refund due.

2. How do I claim PRSI Tax Back?

See here:

Claiming PRSI relief on standalone PRSA contribution

3. Is there a deadline (e.g. Oct 07)?

See here:

October 31 - what does it mean for PAYE worker?

 

[rintpete]

Thanks Clubman !

 

[Radiowriter]

Hi Guys,

I'm contributing €300 per month into an AVC. Does anyone know what is the maximum I can contribute to get the best tax relief?

I'm 40 years old.

Thanks.

 

[Guest126]

You can contribute up to 25% of your pensionable earnings while you are between age 40 and 49.

Remember to allow for any contributions that you are making to the 'main' company pension plan.