Taxes Consolidation Act 1997 section 485F

Carry forward of excess relief

Section 485F provides for the carry-forward of excess relief that has been disallowed under the high earner restriction in section 485E.

• Where the high earner restriction increases an individual's taxable income for a tax year, the amount of the increase (the "excess relief") is carried forward to the next tax year as a deduction from total income.
• If the excess relief carried forward cannot be fully used in the next tax year, the unused balance carries forward again to the following year, and so on for each succeeding year until the full amount has been deducted.
• In any year to which excess relief is carried forward, all other tax reliefs must be given first; only after those reliefs have been taken may the carried-forward excess relief be deducted.
• Where excess relief has been carried forward from more than one earlier year, relief from an earlier year takes priority over relief from a later year.