Pension contributions for the 2005 tax year

I have a query with regard to pension contributions. For a 2005 tax return, is it possible to contribute to a pension in 2006 to be effective for the 2005 tax year, i.e. include it on the 2005 tax return which has a deadline of 31st Oct. e.g. if I contribute to a pension in Oct 2006, will it be valid for the 2005 tax return?

Yes - but you have to tell both the pension provider (i think) and revenue that it relates to the 2005 tax year subject to limits.

Is there a calculator anywhere where I can see how a pensions contribution can bring down my 2005 tax bill.

I am a sole trader and will have a 2005 tax bill of approx e10,000. What are the calculations I can use to see how much a pension contribution would bring down the tax libality.

Just reduce your gross income by pension contributions and recalculate your tax with the revised gross figure to see the effect on your tax/PRSI bill. PAYE employees can use the likes of [broken link removed] to get an idea. Self employed tax is presumably different.

Actually you can use ROS to do this if you have to complete a form 11, using the offline software which contains a pension calculator. The advantage being that you can do several drafts till you get it right and upload it, or if you are missing bits of information, and you can even email the drafts to your accountant when you get confused. That's how I do it anyway... poor accountant, he is very patient as I find tax-speak hard to understand.

I do think ROS still needs to be translated from tax-speak into English for normal people who are not accountants otherwise it will never get widespread use.

Imogen