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Tax credits between spouses

  • 01-09-2011 9:06am
    #1
    [Deleted User]
    Posts: 0 ✭


    Hi, just a quick one

    I'm filling out the Assessable Spouse Election Form, we got married in July.

    I'm the higher earner and the assessable spouse. I'm presuming the best option is to allocate all credits and SRCO to myself, but would be grateful if someone here could confirm that.

    Thank you


Comments

  • #2
    laughter189
    Closed Accounts Posts: 376 ✭✭laughter189


    The higher earner does'nt have to be the assessable spouse .

    What you are doing is allocating your credits and allowances for the rest of the year .

    The allocation will depend on earnings so far this year and forecast earnings for the rest of the year .

    You need to work out how much credits your spouse needs first for the rest of the year , and then you can allocate the balance to yourself .

    Either way , ye will more than likely be both issued with W1 ( week one ) tax certs until 31st December .


  • #3
    Mossie27
    Registered Users, Registered Users 2 Posts: 28 ✭Mossie27


    I'm married two years this week but both myself and the wife are still being taxed as individuals. The individual relief is just doubled for a couple as far as I can see, so is there any reason on notifing Revenue that we are now married?


  • #4
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Mossie27 wrote: »
    I'm married two years this week but both myself and the wife are still being taxed as individuals. The individual relief is just doubled for a couple as far as I can see, so is there any reason on notifing Revenue that we are now married?

    It's not that simple. Joint assessment is nearly always the most favourable assessment basis for a married couple, so you should pursue that


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