Backdating PRSA procedure

[Jordan Belfort]

I have just setup a PRSA in 2015. I have made a lumpsum payment to cover first 8 months and then a direct debit going forward......I'm will get tax relief on that when completing my 2015 form11.

I would like to also make a lump sum payment for 2014 but am unsure how to go about it. I know there is a deadline of letting revenue know by the 31st October.

Is that a case of letting revenue know "before I make a payment" or "after a payment is made but before october 31st" ?
Will I get a separate PRSA 1 Cert for any 2014 lump sum to attach to my 2014 form11 ?

 

[ClubMan]

My recollection is that you make the payment before the Oct 31st deadline and then contact Revenue - even after October 31st - to get relief on it via a P21 balancing statement for the relevant year (in this case 2014).
But maybe to be sure both make the contribution and then contact Revenue before October 31st.
I can't remember if you get a separate PRSA 1 Cert.
I would not bother with a Form 11 just for this - just write to Revenue with the relevant details asking them to apply relief to the pension contribution.
But if you have other stuff to return/file then stick with the Form 11.

 

[Steven Barrett]

The deadline claiming tax relief in respect of 2014 is 31 October (mid November for ROS), so you have to have made the contribution and submitted your tax return by that deadline.


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)