Am I correct in thinking that if I make a contribution of say 5000 for 2007 before the 31st of Dec that I will get tax back at 41% as one payment from the Revenue?
Assuming that this contribution does not cause you to breach your age related annual pension tax relief limit then you will get 41% tax back (assuming that you are a high rate taxpayer) in a lump sum and you can also claim PRSI relief.
Once you make such a contribution write to Revenue with details (e.g. proof of payment, your P60 for 2007 if you make the claim next year etc.) and they should do a P21 balancing statement and issue you with a refund. Once you have claimed tax relief you can then pursue the PRSI relief.
You could possibly have backdated this to last year if you had done it before the end of last month:
I processed a claim via a Tax Return form prior to 31st October 2007 based on maxing AVC for tax year 2006. Any idea how long takes to receive refunds on this? Thanks for advise on PRSI..