So you have been given your 2020 tax bill……..
If you are self employed or an employee who has a tax bill to finalise before the end of October, pension funding is the most straightforward way to reduce that bill and at the same time start the process of setting you up in retirement for the lifestyle you want to live. We make the process simple and use straightforward language to give you a clearer picture of the tax savings and also what starting your pension will mean to you when you do retire.
If you are an employee who feels you are paying too much tax, the good news is that you may be entitled to a refund of some of the Income Tax you paid in 2020. This can be achieved by personally making a lump sum personal pension plan or PRSA contribution by 31 October 2021 and electing to backdate the tax relief to 2020, subject to the age-related limits.