PAYE Anytime - Pension Payment Claims

Squall Leonhart

Hi,

I am wondering if anybody can let me know where to find out, or how to work out my eligibility for claiming tax relief on pension payments?

I was told before I would have to register with "PAYE anytime", which is what I have done and received my pin from Revenue, but when I log in I cannot seem to work out where I'd do this.

Some background:

I've recently set up a PRSA pension, where I make a direct debit payment monthly to my pension plan. It has nothing to do with my employer, nothing deducted at source or anything like that. It is my understanding that a % of these payments can be claimed back as tax relief?

If there is anybody out there with experience of this, or knowledge of how to do this I'd really appreciate private messages to more openly discuss, I don't want to post too many details on the public forum :-)

But anybody with general advice, please post publicly! Thank you very much.



=========EDIT========

I'm going to wait until the end of the year, i.e., after December's payment, to make a claim, but I want to get things clear in my head before then

chickenlicken2

You can ring the tax office to see if they can recode your tax credit cert. This will increase your standard rate cut off point by the amount of the pension paid (subject to and income % restrictions) and your tax credit by 20% of the same amount. So you get the benefit in your net pay then by reducing the amount of paye paid.

Other option is to claim at end of year when you get your P60 and just get the lump sum relief back.

Squall Leonhart

Hi chickenlicken,

Thanks for the reply, appreciated.

chickenlicken2 wrote: »

Other option is to claim at end of year when you get your P60 and just get the lump sum relief back.

Can you explain that a little? My P60 will have total earnings, tax paid, etc etc for the year on it, but how will this relate to claiming lump sum relief as there will be nothing on this about any qualifying pension payments etc etc.

(for the record I have proof of pension payments, can just print off the relevant page from my online login to my account)

chickenlicken2

Well when you get your P60 it means Revenue have received your pay and tax details for the year. Which means that you can apply for any refund if tax due to you from then. You claim the refund directly from Revenue. Can't remember quite what to do but it's a simple process.

Squall Leonhart

Cool, thanks!

gerrybbadd

If you are waiting until after the end of the year, you won't be able to claim relief on a PRSA via PAYE Anytime.

However, you can claim it on the e-Form 12 (you access this through PAYE Anytime. It's easier to use the e-Form 12 anyhow, because most of your info is "pre-populated" into the form, meaning that you only need select the tax credits you want to claim (or if you have additional income to declare, you can do that too)