Applying for Tax Credit

R

roker

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I am retired and below the tax limit for about 3 years, last year in about March the private pension company started taking tax off my pension and I had to apply to the tax office for tax credits before I was zero tax again.
My question is, do I have to apply every year for Tax Credits? I do not understand this system
 
You should not have to apply each year for tax credits. They should issue automatically to the company making the payments to you.
 
Perhaps your pension provider is not aware of what other income you may have (ie. State Pension) and for some reason have put you on emergency tax.
Contact revenue with your full details of income from all sources and they will send you out an amended tax credit certificate and a copy to your pension provider clearing up the matter once and for all
 
Your tax credits should be left with the employer (pension payer) from year to year. You should receive a statement of tax credits in the new year which breaks down where they are allocated and this will enable you to see that they are correct.

If you are concerned, Revenue should be able to see on their computer system at this stage in the year what the allocations for next year are - a phonecall should set your mind at rest.

You'll note the overuse of the word "should" - these computer systems don't always do what they should :)
 
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