Not eligible for tax credits?

B

bungaro

Registered User
Messages
238
Hi
following info on here I decided to set up an execution only avc with Zurich. I got the contract in the post today so I rang up revenue to sort out my tax credits but the lady said I wasn't eligible?? I am a teacher and have my normal pension with the dept and I won't go with cornmarket but I still thought that I could claim credits on my avc?? Anyone shed any light on this for me??
Thanks
 
What are you trying to do?

You pay the AVC's through your net salary and claim the tax relief back. You don't have to contact the Revenue until you are claiming back the premiums next year.

Steven
www.bluewaterfp.ie
 
thanks for the reply steven.

i was under the assumption that once i get paid i could use my wages to pay into an avc (so not directly from source) and then claim the tax credits by calling up revenue?
 
If you want tax relief at source (as you pay the monthly contribution) then you are confined to the Cornmarket route.
If you go some other route (directly with Zurich) you will still get tax relief but only at the end of the tax year when you make a tax return. So if you start contributions in say Jan 2015 and contribute monthly, you can make a tax return in early 2016 (when you might also be claiming for say medical expenses etc) and then get a tax refund.
So you will get tax relief on your AVC contributions but only yearly in arrear.
 
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