The deadline is fast approaching for claiming tax relief against 2017 earnings by making a pension contribution.

Now is the ideal time to top-up your existing pension or start a new policy. This applies whether you are self-employed or a PAYE taxpayer.

If you pay and file online using ROS, you need to make the payment before 14th November and elect to backdate relief against the 2017 tax year. If you do not use ROS the deadline is 31st October. This tax relief cannot be carried forward.

The process is straightforward, benefits you directly and avails of generous tax benefits.

Higher rate taxpayers may 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 added to a pension fund would cost you just €600 after tax relief.

Tax Relief Limits:
Age                  % of earnings *
Under 30                15%
30-39                      20%
40-49                      25%
50-54                      30%
55-59                      35%
60 and over           40%

* Net Relevant Earnings are capped at €115,000 for the purpose of calculating allowable contribution amounts in the 2017 and 2018 tax year

Please contact us via email here with any questions.


John McWey
Managing Director
Ardbrack Financial Limited.
Office Phone: 021-4773833


Disclaimer: The content of this article is for general information purposes only. It does not constitute tax or 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 tax and investment 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