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Form 11 and Pension Contribution

  • 15-05-2018 06:38AM
    #1
    liamjames1
    Registered Users, Registered Users 2 Posts: 63 ✭✭


    Hi,

    I am a PAYE worker and earned some additional revenue for consultancy work in 2017. It is above thresholds so I am filling out a form 11 for the first time.

    Based on the ROS calculation, my net balance owed at year end is c. €4k.

    I have a pension but not made any payments into it in 2017. Provided I have the cash saved, am I correct in my understanding that if I make a c. 8k contribution today in respect of last year (2017) that I would eliminate most if not all of my tax bill and this would be a more tax efficient approach to take?

    Is this still possible to make a pension contribution in relation to 2017 at this point in time?

    Thanks


Comments

  • #2
    Squatter
    Closed Accounts Posts: 1,841 ✭✭✭Squatter


    liamjames1 wrote: »

    Is this still possible to make a pension contribution in relation to 2017 at this point in time?

    Thanks

    Yep - you can make it until 31 October this year. But be sure not to exceed the age-related percentage limit of your earnings in any year.


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