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Last minute AVCs/lump sum AVCs

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  • 19-02-2017 5:45pm
    #1
    annette mulqueen
    Registered Users Posts: 1 ✭


    Wondering how far in advance of retirement one can purchase the Last min AVCs and if one does is the tax only refunded after one retires and cashes in AVC


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    #2
    Geuze
    Registered Users Posts: 13,507 ✭✭✭✭Geuze


    Example.

    Retire in 2017.

    Do an AVC before end Oct 2017, and claim it against 2016 tax bill.

    Do the 2016 tax return during early/mid 2017, get the tax back a few weeks later.

    Then if the AVC was big, and some tax relief carried forward into 2017 tax year, do that return in Mar 2018.


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    #3
    TheDriver
    Registered Users Posts: 12,518 ✭✭✭✭TheDriver


    Just check that your tax liability isn't still 41% after retirement and hence what u gain now, you loose later in the drawdown


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