Fee based broker returning commission

[elacsaplau]

Hi All

If a fee based broker rebates the commission he receives for placing some business, what is the tax position of the client who receives such a rebate? Also, is there any difference in the tax treatment of the rebate depending on the type of policy (e.g. an investment policy compared with a pension policy, etc.)?

Thanks!

 

[elacsaplau]

Now that the tax deadline has passed, hopefully some kind person can advise on my query above please!

 

[Steven Barrett]

It has to be declared, I don't know as what though. It doesn't make a difference what product the rebate came from, it was a payment from the advisor.


Steven
www.bluewaterfp.ie

 

[44brendan]

Why would a personal client have to declare anything? There is no tax-back on the fee. If it is returned it simply negates the payment? I take the point that if a premium is tax deductable then tax reclaimed will need to be adjusted. eg pension policy!