unclaimed tax free allowances

[Citizen Jake]

Hi guys,

Two things. Firstly, about a year ago I claimed back on unclaimed TFA on my pension contributions (45pc) of payments over five/six years and got about E11,000 back, subsequently banked etc. However, I spoke to my company's accountant about ensuring that the TFA for my pension is included in my wages (worth about E150 or so a month) and he said he would need to get a letter from the Revenue to confirm this. However, such a letter has never been sent and there is little difference in my TFA statement that they send out annually. What should I do?

Secondly, I've been renting in the same house for about seven years now but never got round to claiming my rent allowance. How much is this worth annually, how many years can I claim back and what forms do I need?

Appreciate your assistance,
Citizen.

 

[ClubMan]

I spoke to my company's accountant about ensuring that the TFA for my pension is included in my wages (worth about E150 or so a month) and he said he would need to get a letter from the Revenue to confirm this. However, such a letter has never been sent and there is little difference in my TFA statement that they send out annually. What should I do?

Does your statement of tax credits mention anything about pension contributions (e.g. RAC/Retirement Annuity Contract or PRSA)? On the other hand if the pension contributions are made via payroll to an occupational pension scheme then tax and PRSI/health levy relief will be granted at source by the pension contributions being deducted from gross before these are calculated and there will be no mention of pension contributions on your statement of tax credits.

Secondly, I've been renting in the same house for about seven years now but never got round to claiming my rent allowance. How much is this worth annually, how many years can I claim back and what forms do I need?

Since last year you can only backdate outstanding claims for relief/allowances by four years. Previously I think it was ten. Just write to Revenue including copies of the P60s for the relevant years and details of any allowances that you didn't claim and they should sort it out.

 

[Citizen Jake]

On the pension front, it's a private pension I took out years ago. My tax free allowance statement makes no mention of any pension allowances.

 

[ClubMan]

Then you should write to Revenue explaining this to them and including a copy of the Retirement Annuity Contract or PRSA1 cert in order to get your tax credits adjusted to take account of ongoing contributions to be made this year. You will have to claim of any outstanding relief not already claimed year to date (from the above I take it that all previous years' outstanding relief has been claimed). You will have to claim PRSI/health levy relief separately and you can backdate this to the start of 2003 (including contributions made before October 31st 2003 but set against income earned in 2002).