How to claim tax back on lump sum AVC contribution

amacca

Just wondering could anyone point me to a step by step guide/explainer on how to claim tax back on a PRSA AVC contribution and a separate PRSA contribution in respect of 2023 (previous year) on the revenue online site/my account?

If there's no such thing, would anyone be willing to give me the steps?

Geuze

Read this:

https://www.askaboutmoney.com/threads/the-single-public-service-pension-scheme.236839/#post-1902706

Geuze

PAYE Employee: Through logging into 'My Account':

Steps as follows for current tax year:

• Click on 'Manage your tax 2024'
• Select 'Add new credits'
• Select 'Your Job' - Select Pension type i.e. AVC, PRSA, RAC (personal Pension)
• You may wish to complete any other reliefs /credit here.
  Then Click 'Next'.
• You will be required to complete details of payment and estimate of earnings for current year (2024)

Once completed, the tax credits will be populated on screen (at equivalent of 20% income tax relief) and where tax relief due at 40%, the additional 20% will be allocated as an increase in the standard rate cut off point.

For the previous tax year(s) the process is similar however you need to:

• click on 'Review your tax' for the appropriate year
• Request 'Statement of Liability'
• Click on 'Complete Income tax return'
• In the 'tax credits & Reliefs' page select 'Your Job'
• Complete and submit (for processing)

Whether applying pension contributions against current year or previous year within 'Pay and file' date, you will be required to either upload a copy of pension certificate or provide details (a template of a declaration)

amacca

Very much appreciated. Thank you Geuze.