Hi,
Please advise on the sample scenario below.
If for example in 2018 I turned 40 and my 2018 P60 section D shows 40k pay for USC purposes, part A shows 35k... Does this mean that I have scope for 5k of AVC considering that as a 40 years old I can contribute 25 % for tax relief?
Also if I contributed 500 euro in July 2018 and made a 5k single AVC in April 2019 with a company bonus, does this mean I could I could apply to revenue for a 2018 tax refund on 5k - the 500 in 2018 and 4.5k of the 2019 amount leaving 500 euro for a 2019 tax relief?
Trying to get head around how and when to apply for single lump sum AVCs outside of normal AVCs taken out of paycheck.
Thanks
Please advise on the sample scenario below.
If for example in 2018 I turned 40 and my 2018 P60 section D shows 40k pay for USC purposes, part A shows 35k... Does this mean that I have scope for 5k of AVC considering that as a 40 years old I can contribute 25 % for tax relief?
Also if I contributed 500 euro in July 2018 and made a 5k single AVC in April 2019 with a company bonus, does this mean I could I could apply to revenue for a 2018 tax refund on 5k - the 500 in 2018 and 4.5k of the 2019 amount leaving 500 euro for a 2019 tax relief?
Trying to get head around how and when to apply for single lump sum AVCs outside of normal AVCs taken out of paycheck.
Thanks