Taxes Consolidation Act 1997 section 848AC

Other returns

Section 848AC required registered administrators of special savings incentive accounts (SSIAs) to make periodic returns to the Revenue Commissioners detailing tax credits claimed in connection with pension subscriptions funded from SSIA maturity proceeds.

• Each registered administrator was required to make a return (including a nil return) to Revenue for each of four specified four-month periods between June 2006 and September 2007, with each return due by the 28th of the month following the end of the period.
• Returns had to include, for each individual for whom tax credits were claimed in the period, identifying details (name, address and PPS Number), SSIA maturity information (maturity date, gross funds, net funds and maturity tax), the pension subscription amount, and the tax credit and additional tax credit claimed and paid.
• The return also had to state, for each individual, whether the tax credits were treated as an additional voluntary contribution (AVC), a PRSA contribution or a premium under an annuity contract.
• Aggregate figures were required showing the total amount of tax credits in relation to pension subscriptions and the total amount of additional tax credits claimed in the period.