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Ros.ie Form 11, where to add personal pension details?

  • 23-09-2018 6:11pm
    #1
    Registered Users, Registered Users 2 Posts: 517 ✭✭✭


    I am completing my Form 11 for 2017 and want to add in details of a pension payment lump sum I made in the period. I'm making the return on Ros.ie.

    The pension is a personal one I opened up, as I am a sole trader.

    I paid in the max allowable as a lump sum into the pension based on my age (25% of my gross income), so I'm expecting a deduction in the taxes I am due to pay for the period.

    So far I've filled in the following...

    - Under "PAYE/BIK/Pensions (2)" I clicked the "Pension Relief" button in the "Pension Contribution Relief" section
    - Filled in the "Gross employment income" field
    - Clicked the "Form 11" button at the bottom of the page to bring me back to the main Form 11
    - Now on the Form 11 I see the greyed out "Maximum additional pension relief available" field is filled out

    I'm sure I need to fill in more fields on this page, and possibly another screen, so it would be great if someone could point me in the right direction please!


Comments

  • Registered Users, Registered Users 2 Posts: 517 ✭✭✭St1mpMeister


    any ideas? I can ring up Revenue, but just thought it was something fairly straightforward.


  • Closed Accounts Posts: 43 El Grifo


    If you are a Sole Trader then you do not enter pension relief in the "PAYE/BIK/Pensions (2)" section. You are not an employee.
    It should be entered under the "Charges & Deductions" tab and then "Pension Contributions". There is a similar pensions relief tab to work out the maximum allowable there. You will need your Trade/Professional income & any capital allowances etc. details to complete that part.

    The ROS F11 can be difficult for the unfamiliar. If in doubt, and given the potential tax relief which may be involved, assistance from someone properly versed in filing F11s might be well worth the expense.


  • Registered Users, Registered Users 2 Posts: 517 ✭✭✭St1mpMeister


    El Grifo wrote: »
    If you are a Sole Trader then you do not enter pension relief in the "PAYE/BIK/Pensions (2)" section. You are not an employee.
    It should be entered under the "Charges & Deductions" tab and then "Pension Contributions". There is a similar pensions relief tab to work out the maximum allowable there. You will need your Trade/Professional income & any capital allowances etc. details to complete that part.

    The ROS F11 can be difficult for the unfamiliar. If in doubt, and given the potential tax relief which may be involved, assistance from someone properly versed in filing F11s might be well worth the expense.

    I'm a sole trader but was working full time last year, so I have a PAYE section to fill out (or at least it is automatically filled out for me).

    I have to do the Form 11 each year whether or not I was earning anything on the sole tradership.

    I sold a bunch of funds last year as well so I'm paying off tax on the profits and want to reduce this bill by filling out the pension contribution section.

    So taking all this into account, do I still avoid the PAYE/BIK section?


  • Closed Accounts Posts: 43 El Grifo


    I'm a sole trader but was working full time last year, so I have a PAYE section to fill out (or at least it is automatically filled out for me).

    I have to do the Form 11 each year whether or not I was earning anything on the sole tradership.

    I sold a bunch of funds last year as well so I'm paying off tax on the profits and want to reduce this bill by filling out the pension contribution section.

    So taking all this into account, do I still avoid the PAYE/BIK section?

    Clicking the pensions relief button on either PAYE 2 or Charges & deductions will bring you to the same computation screen.

    If your PAYE employment is non-pensionable, i.e. you are not a member of an occupational pension scheme where you make contributions, then you can enter the employment income in the pensions section as mentioned, the line is headed
    "Non Pensionable PAYE Income
    (Include BIK if related to this Income and deduct PAYE Expenses)"
    Relief will then be granted on PAYE and self-employed income subject to the prescribed limits.

    If your PAYE employment is pensionable i.e. you are a member of an occupational pension scheme where you make contributions, then you need to enter the contributions already tax relieved under the "net pay arrangement", in the line
    "Less pension contributions including contribution to QOPPs which are relieved under sections 774 and 776 via the net pay arrangement (no further relief due on this amount)".
    You'll only then get relief on what's available otherwise. For example someone in an occupational scheme might make an AVC and if not already relieved under the "net pay arrangement" then they'd claim the relief there.


  • Registered Users, Registered Users 2 Posts: 517 ✭✭✭St1mpMeister


    I have my own private pension that I top up, so nothing to do with the employer, so I'll avoid the occupational pension sections.

    Thanks.


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