Backdating pension contributions to 2020

elacsaplau

Registered User
Messages
892
Is it just me or is anyone else confused by this thread?

What are financial advisers telling their PAYE clients, i.e. where a contribution is made prior to 31/10, what's the deadline for advising Revenue of one's wish to offset against previous tax year?
 

Buddyboy

Registered User
Messages
739
I think the confusion is that there were initially 2 questions
1. The date when the lump sum has to be paid by
2. The date that revenue have to be told to allocate the payment to the previous year.

I know the answer to number 1 (31st October of the following year). I don't know the answer to number 2, and I think a lot of the posts aren't making it clear which question they are answering (of the two above).
Or maybe I'm having a senior moment :)
 

Shirazman

Registered User
Messages
476
The bolded section indicates that you have to elect by 31 October to allocate the relief to the previous year.

Section 3.4 of the tax and duty manual states it explicitly. You must inform revenue by 31 October 2021 (or the extended filing deadline if you pay and file online) that you want to set the contribution against your 2020 tax.

Did you also spot that page 6 of the tax and duty manual states "A claim for tax relief must be made within four years of the end of the year of assessment in which a contribution is made or is treated as having been made."

So there we have it from the horse's mouth! QED, thread closed. ;)
 

Ciru75

Registered User
Messages
151
Did you also spot that page 6 of the tax and duty manual states "A claim for tax relief must be made within four years of the end of the year of assessment in which a contribution is made or is treated as having been made."

So there we have it from the horse's mouth! QED, thread closed. ;)
Of course. All claims must be made within 4 years and ones allocating contributions to the year before they were paid must be made by 31 October of the year they were paid.
 

elacsaplau

Registered User
Messages
892
Ok - so to answer my question on #21

If paper based reporting, 31/10;
If online reporting, the ROS deadline


It's hard to see what use the 4 year rule is for those carrying back to the previous year? If you've already told the Revenue about the carried back contribution (by the above dates) what more is there to do?
 
Top