Employment Tax & Pensions

Employment Tax & Pensions

It is important that an individual stays informed as to the effect that tax reforms and new regulations have on their pensions.

Tax reforms and new regulations have effects as regards pensions.

In a time when there is increasing uncertainty as to the availability of tax reliefs for pension contributions, the most tax efficient form such contributions should take and the most appropriate way to derive benefit from your pension after retirement, it is important that an individual stays informed as to the effect that tax reforms and new regulations have on their pensions.

Tax relief on pension contributions has come under scrutiny and ever-tighter regulations of this area means that an individual should plan the scale and timing of their pension contributions in advance.

KPMG’s multidisciplinary Pensions Advisory Services team includes highly qualified and experienced actuaries, tax advisers, pension consultants, corporate finance professionals and qualified financial advisers who utilise local actuarial and consultancy experience to provide broad-based, commercial advice to a range of clients. Our tax advisers interact closely with company’s finance and human resources teams to advise on existing and potential employee reward strategies. Our experience is applicable across a number of sectors and our tax services include:

  • Advice on aligning compensation and benefits programs with a company’s overall talent and corporate strategies, and the marketplace needs 
  • Assist with the implementing of an automated approach that can help companies complete their tax compliance requirements.
  • Advice on the establishment and implementation of individual and occupational pension schemes, both defined contribution and defined benefit 
  • We advise on pensions disputes that arise for individuals and employers with the Revenue Commissioners 
  • We advise individuals and employers on potential tax implications arising on the restructuring and wind-up of pension schemes 
  • Advice on the funding limits applicable to individual pension funds – i.e. Standard Fund threshold (“SFT”) / Personal Fund Threshold (“PFT”) 
  • Advice on tax free lump sums potentially available to individuals on retirement

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KPMG’s all-Ireland Tax practice provides the latest Irish and UK technical advice.

 
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