Hi All,
Starting my pension now a bit latte at 30 but at least starting it and a bit confused when it comes to the Tax Relief section.
I started my work pension and I am putting in 5% and I believe that it is being taken from my Gross Salary So i don't think I need to do anything here.
I am also setting up a Private pension which I am moving €15% of my gross monthly into it.
I understand that I can tax claim relief on a percentage of what I am paying in but I am a bit confused;
1. Do I need to claim the relief for my private and work pension or just my private one.
2. Do I have to claim back the relief at the end of the year or can ai contact revenue to adjust my tax credits on a monthly basis.
3. If I can adjust my tax credits on a monthly basis, do I need to do it before the private pension starts or after it starts (Starting to pay into it end of March.)
Thanks for any help and i hope my questions are clear.
Starting my pension now a bit latte at 30 but at least starting it and a bit confused when it comes to the Tax Relief section.
I started my work pension and I am putting in 5% and I believe that it is being taken from my Gross Salary So i don't think I need to do anything here.
I am also setting up a Private pension which I am moving €15% of my gross monthly into it.
I understand that I can tax claim relief on a percentage of what I am paying in but I am a bit confused;
1. Do I need to claim the relief for my private and work pension or just my private one.
2. Do I have to claim back the relief at the end of the year or can ai contact revenue to adjust my tax credits on a monthly basis.
3. If I can adjust my tax credits on a monthly basis, do I need to do it before the private pension starts or after it starts (Starting to pay into it end of March.)
Thanks for any help and i hope my questions are clear.