Examination of pension contributions for a medical consultant

medical-insuranceThe client

Our client is a medical professional both employed by the state and earning consultancy income from his private clinic.

Background

A recent development in tax legislation meant that our client had to apportion their contributions to their employment and personal pension plans in a very specific manner in order to obtain maximum tax relief.

Our client asked us to examine their contributions to both their employment and personal pension plans in a particular year to establish what additional sums they could contribute to each to obtain maximum tax relief.

Our work

We:

  • 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.
Benefits

We were able to secured significant income tax refund on the client’s behalf.