Setting up tax relief for PRSA pension

vincenzolorenzo

I recently set up a PRSA pension but the gross amount is currently being debited from my account. I want to change it so that its being deducted from my gross pay rather than net so I've got myself set up on PAYE anytime. However in the section where you can add tax credits there is no mention of pension tax relief. I've searched online but can't find out what I need to do! Can anyone here advise me on what I need to do next?

namenotavailablE

You need to arrange this with your employer.

Your payroll department needs to include the deduction for the pension as part of your payslip. This way, your tax will be calculated on the gross pay less the pension contribution, thereby granting you immediate relief. The employer then will pass the amount deducted to the pension provider.

vincenzolorenzo

Thanks for the reply. Do I need to get an amended tax credit form? Or do I just tell them its X euro per month and they look after everything else?

namenotavailablE

It won't change your tax credits unless your current tax credits include a credit for the pension (which will need to be removed). The Revenue won't really have anything to do- it's your payroll department that will be impacted.