Tax Saving Opportunities – For Employees
Good news! Do you feel you are paying too much tax? You may be entitled to a refund of some of the income tax you paid in 2017, read on..
- You can avail of this tax saving opportunity by personally making a lump sum Pension contribution
- You need to make this Pension Contribution by 31st October this year
- And you also need to elect to backdate this tax relief to 2017 – subject to the age limits shown below:
|Age Band||% of Net Relevant
|60 and over||40%|
|Up to age 29||15%|
Not only have you the advantage of reducing your Tax Bill you are also building a retirement fund for future financial planning.
Don’t delay, as the option of backdating relief for employees is only available until 31st October.
If you need any advice, please contact us today by clicking on Contact Us at the top of this page, or click here
Thanks for reading!