billythefish
Registered User
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Hi all
I have a client with taxable profit of c €6k and RAC contributions of about €4,000. His age allows him to take about €1,600 (25%) of his RAC relief this year (with the balance being carried forward) but it's not going to do him any good in this tax year.
My question is, must he claim the €1,600 this year or can all of the relief be carried forward and claimed in a year where it will actually yield a tax benefit?
Thanks in advance
I have a client with taxable profit of c €6k and RAC contributions of about €4,000. His age allows him to take about €1,600 (25%) of his RAC relief this year (with the balance being carried forward) but it's not going to do him any good in this tax year.
My question is, must he claim the €1,600 this year or can all of the relief be carried forward and claimed in a year where it will actually yield a tax benefit?
Thanks in advance