C
clon
Guest
Family members will be retiring in a few years ( PAYE just turned 60). They are currently maximising what can be put into the co's profit share scheme, are putting 40% of taxable earnings into AVC's, and the balance at the top rate to a BES scheme (this years scheme is still awaiting clearance from the EU).
My query is if after retirement they are entitled to be taxed under the over 65's exemption of €38,000 for a couple and the balance at 40%, could the BES scheme still be used to get tax back on the balance beyond €38,000 ?, or can this only be done through the normal tax credit system, I believe that with the exemption scheme they lose their tax credits etc. but can still claim for medical expenses etc.. It just a point that I'm not very clear on.
Any help would be appreciated.
My query is if after retirement they are entitled to be taxed under the over 65's exemption of €38,000 for a couple and the balance at 40%, could the BES scheme still be used to get tax back on the balance beyond €38,000 ?, or can this only be done through the normal tax credit system, I believe that with the exemption scheme they lose their tax credits etc. but can still claim for medical expenses etc.. It just a point that I'm not very clear on.
Any help would be appreciated.