The deadline for availing of 2016 personal tax relief is fast approaching on October 31st.
Now is the ideal time to start or top-up your pension. This applies whether you are self-employed or a PAYE taxpayer.
You could potentially reduce your tax bill or even get a refund from Revenue of tax already paid.
If you do not make a contribution by the deadline you miss the opportunity to obtain tax relief on your 2016 income, and this relief cannot be rolled forward.
Higher rate taxpayers can qualify for 40% tax relief on their contribution to an approved pension fund, subject to certain limits set out by Revenue. In simple terms, where applicable each €1,000 you add to your pension fund would cost you just €600 after tax relief.
The process is straightforward, benefits you directly and avails of generous tax benefits.
Contact us for a free consultation. We can explain the entire process in simple language and show how it can make a material difference to your long-term financial health.
Ardbrack Financial Ltd
Disclaimer: The content of this article is for general information purposes only. It does not constitute investment advice as it does not take into account the investment objectives, knowledge and experience or financial situation of any particular person or persons. You are advised to obtain professional advice suitable to your own individual circumstances. Ardbrack Financial Limited makes no representations as to the accuracy, validity or completeness of the information contained herein and will not be held liable for any errors or omissions.
Ardbrack Financial Ltd is regulated by the Central Bank of Ireland