State Pension – How To Avoid a Tax Liability?
Revenue is now receiving pension information from the Department of Social Protection. Revenue is currently cross referencing the information to the Income Tax Returns of those with DSP Pensions with a view to identifying instances of taxpayers failing to declare and under-declaring their DSP Pension.
State pensions are liable to income tax. Taxpayers should take care to ensure that an element of their cut-off band and tax credits have been allocated to the DSP Pension to avoid a tax liability.
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Feel free to contact Paul on +353 (0) 1 677 9000 or by email for a complimentary confidential consultation.
Paul Leonard is a Partner at Cooney Carey. Paul has 20+ years of experience working as a business adviser and his areas of expertise are: audit, forensic accountant in investigations and a range of legal cases including family law matters, bank negotiations, business re-structuring, company valuations and dispute resolution. His qualifications include being a Fellow of the Institute of Chartered Accountants in Ireland, a Chartered Management Consultant, a qualified Forensic Accountant and an Accredited Mediator.