Taxes Consolidation Act 1997 section 787AF

Allowance to employer

Section 787AF provides tax relief for employer contributions made to the National Automatic Enrolment Retirement Savings Authority on behalf of participating employees.

• Employer contributions to the Authority for participating employees are deductible as a business expense in the chargeable period in which they are actually paid.
• A chargeable period means an accounting period for companies or a year of assessment for individuals.
• No deduction is available for provisions or accruals in respect of future contributions — only amounts actually paid qualify for relief.
• The deductible amount is limited to contributions made for employees working in the part of the business whose profits are chargeable to income tax or corporation tax.