How do I reduce my Tax Bill before 31st October 2018?

On or before 31st October 2018 those in the self-assessment system must submit their 2017 personal tax return (declaration of income and capital gains) and pay their income tax balance for 2017, while also making a preliminary tax payment for 2018

 

Your last chance of reducing your income tax bill for 2017 is by making a pension contribution

 

You have the choice to claim relief against your income for 2018 (the year of the payment) or against your income for 2017 which will back-date the relief. Relief on the following contributions can be backdated;

 

  • Personal pension contributions
  • PRSA contributions
  • AVC contributions

 

The ROS deadline is 14th November 2018 and this should also be relevant to pensions contributions.

 

Contact Rose on 0214255822 or rose@walshgroup.ie

 

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