Salary Deducted AVC Versus Standalone AVC

[hupourdat]

Hi All,

When an AVC is done by salary deduction, the tax relief is applied at source.
How is tax relief applied for individuals who do their own standalone AVC? Do they have to make a tax return each year?

Is there any tax advantage from one over the other.

Thanks

H

 

[kceire]

Hi All,

When an AVC is done by salary deduction, the tax relief is applied at source.
How is tax relief applied for individuals who do their own standalone AVC? Do they have to make a tax return each year?

Is there any tax advantage from one over the other.

Thanks

H

IIRC, you inform the revenue that you make the contribution and how much you pay, and they adjust your Tax Credits accordinaly, but i may be wrong.