Revenue refund/adjustment

[Astoy5]

I want to make a pretty sizeable (for me) lump sum to an AVC PRSA which I’m going to backdate to 2023 to make sure my allowance is used in full for that year. I understand I have to do this before 31 Oct of this year.

Do Revenue refund me the 40% tax relief into bank account (like they do for health expenses)? Or do they readjust tax credits for 2025? Apologies for this newbie question!

 

[LDFerguson]

Do Revenue refund me the 40% tax relief into bank account (like they do for health expenses)?

Assuming that the amount of the AVC is fully allowable at the higher tax rate and that you have no other monies owing to Revenue, yes.

 

[Astoy5]

Thanks for your help.

 

[Corola]

Just make sure to claim it though "Review Your Tax 2023" not "Manage Your Tax 2024".