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Last minute AVCs/lump sum AVCs

annette mulqueen · 2017-02-19 16:45:58

Wondering how far in advance of retirement one can purchase the Last min AVCs and if one does is the tax only refunded after one retires and cashes in AVC

19-02-2017 05:45PM

#1

annette mulqueen

Registered Users, Registered Users 2 Posts: 1 ✭

Join Date: February 2017

Posts: 0

Wondering how far in advance of retirement one can purchase the Last min AVCs and if one does is the tax only refunded after one retires and cashes in AVC

0

Comments

#2 22-02-2017 01:04AM

Geuze

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Join Date: July 2010

Posts: 14486

Example.

Retire in 2017.

Do an AVC before end Oct 2017, and claim it against 2016 tax bill.

Do the 2016 tax return during early/mid 2017, get the tax back a few weeks later.

Then if the AVC was big, and some tax relief carried forward into 2017 tax year, do that return in Mar 2018.

0
#3 23-02-2017 01:49PM

TheDriver

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Join Date: September 2004

Posts: 12123

Just check that your tax liability isn't still 41% after retirement and hence what u gain now, you loose later in the drawdown

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