If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Adjusted Profit Add back

MS L H · 2013-02-10 11:56:15

When calculating the adjusted profit for a business should I add back accrued employer pension contributions? I believe so but I cannot find anything to support.

10-02-2013 11:56am

#1

MS L H

Registered Users, Registered Users 2 Posts: 13 ✭

Join Date: May 2012

Posts: 7

When calculating the adjusted profit for a business should I add back accrued employer pension contributions? I believe so but I cannot find anything to support.

0

Comments

#2 10-02-2013 2:52pm

nompere

Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭

Join Date: December 2006

Posts: 1647

You'll find this in the Revenue Pension Manual, and it gives you a statutory reference as well.

4.2

Any ordinary annual contribution paid by an employer to an exempt approved scheme is allowed as a deduction for tax purposes. Section 774(6), Taxes Consolidation Act 1997, provides that the amount of the contributions shall be allowed to be deducted as an expense incurred in the year in which the sum is paid.

http://www.revenue.ie/en/about/foi/s16/pensions/chapter-04.pdf?download=true

Most practitioners will tell you that as long as you are consistent, Revenue will accept pensions provisions whether they have been paid or not. I know I've been through a number of audits where it wasn't an issue.

0