Arf tax query

Scorpio

Registered User
Messages
3
Tax refund question
Hi
Could anyone help on this issue please? I've withdrawn a sum from my Arf (have taken full tax free sum a number of years ago) to help me add to a credit union loan to build a granny flat on my home to give me an income now or pension in the future as I don't have a private pension, but am paying a lot of tax on it even though I've allocated some tax credits to it, is there any possibility of claiming any of this tax back at all. Any information on greatly appreciated.
 
That's a long sentence and it doesn't read well. ARF's are taxed as PAYE so if you paid 40% but are below the 40% threshold, you can claim some back. Ring the Revenue and ask next year when they get your P60.


Steven
www.bluewaterfp.ie
 
Hi Stephen

Thank you for your reply and yes sorry question was very long-winded, my first time on the site and only realised after I had posted. Really appreciate the advice.
Kind regards
Scorpio
 
Yes ARF providers are obliged to deduct PAYE and USC from all withdrawals. When you complete your tax return at end of year any overpayment to revenue will be refunded.
 
Thank you for your advice Feemar5, its always reassuring to know that I'll get any overpayment refunded to me, im a bit of a novice on these issues
Many thanks and kind regards
Scorpio
 
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