Contribution outside of payroll

[shipship]

Hi,

I've had a delay in sorting out my pension through payroll.

If I make a contribution to my PRSA directly, when will I be able to claim the relief for that payment? Can I get it in my next payroll? Or do I've to wait until the end of the year?

 

[John7675]

You can claim your tax relief either at the end of the year or immediately through monthly increase in tax credits,

When you make your direct PRSA contribution you will receive a PRSA certificate from your pension provider which you can send onto Revenue to have your tax credits amended. That's the option I went for as you are receiving the credit straight away as opposed to settling at the year end with Revenue,

Hope this helps,

John

 

[shipship]

Great, thanks John.