When is last day for making AVC ?

M

MfS

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When is last day for making an AVC to my company pension plan ? i.e. do I have to do it before 31/12 this years to qualify for relief this year.

Being 35 I can contribute up to 20% I believe - at the moment I am contributing 5% and my employer 10%

Is the 20% maximum calculated on my gross salary or does it appply to Gross Salary + my employers contribution ?
 
MfS said:
When is last day for making an AVC to my company pension plan ? i.e. do I have to do it before 31/12 this years to qualify for relief this year.
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October 31st to offset it against the previous tax year's earnings. So to set it against 2006 earnings you have until October 31st 2007. You missed the October 31st 2006 deadline for offsetting against 2005 earnings.
Being 35 I can contribute up to 20% I believe
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Correct.
Is the 20% maximum calculated on my gross salary or does it appply to Gross Salary + my employers contribution ?
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What sort of pension - e.g. personal, executive, PRSA, occupational other? For all but occupational schemes I think that the total contributions matter but for occupational schemes it's just the personal/AVC contributions that matter in relation to the tax relief limit. I could be wrong!
 
I *think* it's as a % of your gross salary only i.e. not of your employer's contribution.
 
In an occupational/Executive scheme, gross earnings are your total earnings, including overtime, bonus, BIK, medical insurance, basically anything you pay tax on you can claim relief up to the relevant limits. It does not include the employer contribution since it is not taxable in your hands.
 
Yes based on your own contribution only (ignore employer %).
 
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