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AVC,s

junospider · 2013-03-18 21:05:35

Does anyone know what the story is about cashing in one third of your AVC,s, how do you go about this and what are the tax implications?thanks in advance.

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18-03-2013 10:05pm

#1

junospider

Registered Users Posts: 167 ✭✭

Join Date: September 2010

Posts: 149

Does anyone know what the story is about cashing in one third of your AVC,s,
how do you go about this and what are the tax implications?thanks in advance.

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#2 19-03-2013 12:34am
coylemj

Registered Users Posts: 25,435 ✭✭✭✭

Join Date: October 2006

Posts: 24947

You have to wait for the current Finance Bill to get passed and then it will be possible. You will need a statement or certificate from the Revenue if you want tax deducted at the low rate, otherwise the insurance company will be obliged to deduct tax at the high rate.

Minor technical note: It will be 30% max., not one-third.

Follow the progress of the bill here.....

http://www.oireachtas.ie/viewdoc.asp?DocID=22833&&CatID=59

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