Two things dominate this month. First, it is pension season: if you are self-employed or file a Form 11, the next few weeks decide how much tax you pay, and how much you keep. Second, Budget 2027 lands on 6 October, and it is shaping up to be a big one for savers, families and business owners. Below: the reliefs people routinely leave behind, a plain-English preview of what to expect on Budget Day, and a reminder about markets that is worth pinning to the fridge.
Here is the bit most self-employed people miss. At the higher rate of tax, pension relief hands €4,000 of a €10,000 contribution straight back, so your real cost is around €6,000. Same retirement pot, four grand less out of your pocket. Relief is given at your marginal rate (40% higher, 20% standard), within age-related limits and the €115,000 earnings cap.
And this is not only for the self-employed. If you are a PAYE employee in a company pension scheme, you can do exactly the same by making an AVC (Additional Voluntary Contribution), on the same terms, same age-related limits, same relief, and the same ability to backdate it.
| Your age | Max % of earnings you can get relief on |
|---|---|
| Under 30 | 15% |
| 30 to 39 | 20% |
| 40 to 49 | 25% |
| 50 to 54 | 30% |
| 55 to 59 | 35% |
| 60 or over | 40% |
The pay and file deadline is 31 October, extended to 18 November 2026 if you both pay and file through ROS. Make a pension contribution or AVC and elect to backdate it before you file, and you can set the relief against your 2025 tax bill. One practical point: if you are setting up a new arrangement, start in early-to-mid October, as providers need time to have it in place. This is money you can save on the tax you are about to pay, so do not leave it to the last week.
Pension relief is only part of the picture. Between EIIS (income tax relief of up to 50% on qualifying investments, though it carries real risk and rules), and the everyday credits and expenses people never claim, there is often serious money sitting on the table. The next section is the checklist.
Sort my pension before the deadlineA recent Brokers Ireland tax guide for advisers put it well: most people simply do not know what they are entitled to, so credits and reliefs go unclaimed year after year. You can generally claim back for the last four years, so it is worth a look. A few of the common ones:
| Relief | Worth knowing |
|---|---|
| Medical expenses | 20% back on GP visits, consultants, prescriptions, physio and more, for you or a family member you paid for |
| Nursing home fees | Relief at your marginal rate (up to 40%) for qualifying 24-hour care |
| Remote working | 30% of your electricity, heat and broadband for days worked from home, at your marginal rate |
| Tuition fees | 20% on qualifying third-level fees up to €7,000 per course, after the annual disregard |
| Home carer / dependent relative | Credits where one spouse cares for a child or you support a dependent family member |
| DIRT exemption | Over-65s and certain others on lower incomes may reclaim the 33% DIRT on deposit interest |
A simple annual prompt covers most of it: has anything changed in the last year in your household, job, health or caring situation? If yes, your Revenue record may be out of date, and a quick check on myAccount (or a short review with us) often turns up a refund.
Check what I could be claimingThe Government has framed this as a "workers' budget", and it is doing so from a position of strength: the Business Post reports corporation tax is set to top €37 billion this year and could near €40 billion next, even as the Fiscal Council warns how much of that rests on a handful of firms. Expect a tax package now likely above €2 billion, on top of about €7 billion of new spending. Here is what is being flagged:
| Area | What is signalled |
|---|---|
| Income tax | The higher-rate threshold rising €2,000 to €46,000, the first step on a stated path beyond €50,000, plus a USC tweak so lower earners are not dragged in |
| Inheritance (CAT) | The parent-to-child threshold expected to rise from €400,000, with talk of €500,000. The harder unfairness for nieces, nephews and the childless looks like being left alone |
| Entrepreneur relief | The CGT entrepreneur relief cap expected to rise, potentially doubling to €2 million, letting business owners keep more of a sale at the 10% rate |
| Savings & Investment Account | A reported 1% rate on the value above a tax-free threshold, with the threshold and annual limit due on the day, plus a likely move on deemed disposal |
| Insurance levy | The 1% Insurance Compensation Fund levy is being cut to 0% from January 2027, the first time since 2012 |
| Childcare | A "significant move" flagged, pushing toward a €200 per child per month model |
| Energy & other | Fuel excise cuts extended, carbon tax off home heating oil, home-battery and boiler-scrappage grants, and a bank-levy extension |
There is real pressure to scrap the 8-year deemed disposal rule and cut the fund exit tax from 38% toward the 33% CGT rate. My view is a rate cut and a signal of intent this year, with full abolition more likely parked for Budget 2028. The new savings account escapes deemed disposal from day one, which rather tells you the Government knows the rule is bad, they are just fixing it for new money first.
The peculiar one to watch. Under plans being considered, credit unions will be able to refer members to authorised providers of the new account and charge a fee for the service (Business Post). It is a strange one: a charge for telling you to take your money somewhere else. Worth reading the small print before you pay anyone for a signpost.
Underneath it is a genuine balancing act, the trickiest in years (Business Post). For the first time the Government is tied to its own spending ceiling under new EU fiscal rules, capping new spending at about €7 billion of a €125 billion base, so it is leaning hard on the tax side (which the ceiling does not cover) and on "re-profiling" existing budgets. Income tax cuts, energy supports, childcare, an unfinished public-sector pay deal and infrastructure all have to fit, funded on a corporation-tax base that a shift in Washington could dent. We will translate the actual detail into plain English for you the moment it lands.
Auto-enrolment launched in January. More than 835,000 employees across some 115,000 employers are now enrolled, and after nine months over €550 million has been collected, with funds under management around €586 million (Business Post). It is a real step forward for people with no pension, though it does not replace proper, tax-efficient planning for anyone who can do more, and it is no substitute for a pension or AVC where you can claim relief at your marginal rate.
Markets had another solid stretch, global shares are up double digits for the year so far, but the mood turned jittery as government bond yields jumped. The US 10-year pushed above 5.2% and the 30-year through 5.5%, its highest since 2004, on sticky inflation and heavy borrowing. Oil stayed volatile around the €90s with Strait of Hormuz disruption still in play, and gold sat near record highs. When yields lurch like that, equities wobble, and headlines get loud.
Which brings me to the one thing worth pinning to the fridge for the next time your statement turns red. Since 1950, every single fall in the S&P 500 has been fully recovered. Not most. All of them.
| Fall from a high | How often | Time to recover | Recovered |
|---|---|---|---|
| 5% or more | About twice a year | ~2 months | 172 of 172 |
| 10% or more | Every ~18 months | ~6 months | 50 of 50 |
| 15% or more | Every ~3.5 years | ~9.5 months | 22 of 22 |
| 20%+ (bear market) | Every ~7 years | ~19 months | 11 of 11 |
The risk was never the fall. The risk was selling into it and turning a temporary drop into a permanent loss. Time in the market beats timing your emotions. None of this month's noise changes the plan for a long-term investor, it is a reason to be diversified, not a reason to react.
Deadline, again, because it matters. Self-assessed and paying through ROS? 18 November is the day for filing, paying, and getting a pension contribution in against 2025. Do not leave it to the last week.
Budget Day, 6 October. We will send a plain-English breakdown of what actually changed for you, your family and your business, once the detail is real rather than rumoured.
Pension, tax reliefs, the new savings account or where your money is invested, we give independent, Irish-specific advice built around you. Pension season is the time to act.
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