Tax relief on AVC after changing employment?

P

Paul F

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Hi,

I have a PRSA AVC and I would like to make a lump-sum contribution to it. I will shortly be moving to a new job. If I make the lump-sum contribution myself (i.e., not through payroll), can I still claim tax relief on it when doing my tax return early next year even though I will be in a new job?

Thanks
 
Does anybody have any information on this? Are there any restrictions on getting tax relief on AVCs if you subsequently change employment?
 
Hi Paul,

If the payment is in respect of when you were in pensionable employment, you can make the payment into the PRSA AVC. So a payment in 2016 in respect of 2015 earnings for your old job is fine.

That PRSA AVC is linked to your old employer so cannot be moved to your new job.

Steven
www.bluewaterfp.ie
 
Hi Paul - to the best of my knowledge you must make the actual payment on/before your date of leaving. Also the tax relief limits for that AVC will be based only on your earnings from that employment (i.e. earnings from any new job won't count).
 
Hi guys, thanks for the replies. This Irish Life document "AVCs and your PRSA" (page 17) appears to say that you can't backdate contributions if you have changed employer in the meantime. Is that right?

But if I do make the lump-sum contribution before I leave the current job, will Revenue allow me tax relief when I complete my form 12 after year end? (I do not have an occupational pension scheme, if that makes any difference.)
 
Paul F said:
This Irish Life document "AVCs and your PRSA" (page 17) appears to say that you can't backdate contributions if you have changed employer in the meantime. Is that right?
Click to expand...

Hi Paul

Do you have a link to this document please?
 
Dan Murray said:
Hi Paul

Do you have a link to this document please?
Click to expand...

Hi Dan,
I can't post a link but if you google for "irish life additional voluntary contributions and your prsa" it should be the second result (the first PDF result).
 
I would like to go this too but I also thought I read this in an Irish life doc. - that once you have left the company pension scheme you cannot do avc prsa in respect of that employment's earnings ....
?
Link below
[broken link removed]


Is this incorrect or have I misunderstood as I would dearly love to make prsa avc like op if allowed... ?
 
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