Examination of pension contributions for a medical consultant
Our client is a medical professional both employed by the state and earning consultancy income from his private clinic.
A recent development in tax legislation means that our client must now apportion his contributions to his employment and personal pension plans in a very specific manner in order to obtain maximum tax relief.
Our client asked us to examine his contributions to both his employment and personal pension plans in a particular year to establish what additional sums he could contribute to each to obtain maximum tax relief.
Specifics of Work
Examined the breakdown of the client’s income for the particular year.
Established what contributions he had already made in respect of his employment and consultancy income.
Calculated the optimal contribution he could make in respect of each pension plan.
Lodged the appropriate return with the Inspector of Taxes.
Secured significant refund on the client’s behalf.