Dominic Coyle of the Irish Times brought to our attention the registration deadline (June 7th)for Personal Fund Thresholds in his article Pension deadline for high earners.
This relates to the reduction in the pension fund cap since Budget 2011 from €5.4m to €2.3m (Standard Fund Threshold). Individuals with fund values or accrued pension entitlements valued in excess of €2.3m as at 7th December 2010 can seek a Personal Fund Threshold (PFT) from Revenue for the higher value.Such individuals are required to register the details of their pension with Revenue by June 7th, otherwise Revenue will levy a tax on anything above the Standard Fund Threshold on retirement.
It is important that you contact our PFT Helpdesk on (01) 6035199 or email pft@independent-trustee.com as soon as possible in order to get an initial free assessment on your exposure.
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